Ann: HY24 Results Presentation, page-13

nothing has gone wrong per say. It’s just that a lot of Cqe has rents that are increasing at a lower rate than others and has a high level of debt. If we didn’t have the levels of inflation that we have had it would have performed better. But if everything everywhere is 7-10% more expensive and rents are only increasing by 3% then we don’t make as much as others. Also the debt repayments increase. Unless I’m missing something else I think they are the two main points. Things to remember though are we have 100% occupancy and a large book value