The Company has built on the success of 2016 to produce another strong set of results. The full year to 31 December 2017 saw another significant portfolio valuation uplift, driven by the positive market backdrop and our active asset management strategy, resulting in an EPRA NAV per share total return of 53.0%.

 
€ million unless otherwise stated 31 Dec 18 31 Dec 17 31 Dec 16 31 Dec 15
Net contracted rental income (€m) 17.5 18.1 15.9 12.1
Profit before tax 56.4 138.5 48.9 13.0
Reported EPS (€) 0.46 1.18 0.42 0.14
Investment property value 645.7 609.3 423.8 283.6
Net debt 168.4 195.1 167.1 121.0
Net LTV1 26.1% 32.0% 39.4% 42.8%
EPRA NAV per share (€) 4.58 4.11 2.7 2.28
EPRA NAV per share (£)2 4.11 3.65 2.3 1.67
Dividend per share (€ cents) 7.5 7.3 6.3 5.8
Dividend per share (£ pence)2 6.73  6.4 5.3 4.2
EPRA NAV per share total return for period (€%) 13.2 53.0% 17.5% 17.5%
EPRA NAV per share total return for period (£%) 11.4 57.10% 41.7% 10.7%

1 Debt less cash as a proportion of value of investment property
2 Exchange rate of 1.12 at 31 December 2018.