Reuters logo
BRIEF-Land Securities says ‍headwinds of Brexit starting to show in economy
November 14, 2017 / 7:13 AM / 4 days ago

BRIEF-Land Securities says ‍headwinds of Brexit starting to show in economy

Nov 14 (Reuters) - Land Securities Group Plc

* INTERIM DIVIDEND UP 10.1 PERCENT TO 19.7 PENCE PER SHARE

* REVENUE PROFIT IS UP 5.2% AND ADJUSTED DILUTED EARNINGS PER SHARE ARE UP 5.8% FOR SIX MONTHS ENDED 30 SEPTEMBER 2017​

* ‍VALUATION OF COMBINED PORTFOLIO IS LITTLE CHANGED, ADJUSTED DILUTED NET ASSET VALUE PER SHARE IS UP 1.1% VALUATION OF COMBINED PORTFOLIO IS LITTLE CHANGED, ADJUSTED DILUTED NET ASSET VALUE PER SHARE IS UP 1.1%​

* ‍SALE OF 20 FENCHURCH STREET, EC3 AT AN EXCEPTIONAL PRICE DEMONSTRATED OUR DISCIPLINED APPROACH TO MANAGING CAPITAL​

* ‍ SALE OF 20 FENCHURCH STREET CRYSTALLISED A 170% PROFIT ON COST AND SIGNIFICANT VALUE FOR SHAREHOLDERS​

* ‍HEADWINDS OF BREXIT ARE BEGINNING TO SHOW IN ECONOMY​

* ‍ACQUISITIONS, DEVELOPMENT AND REFURBISHMENT EXPENDITURE OF £463M​

* ‍FIRST HALF DIVIDEND OF 19.7P, UP 10.1%​

* ‍“NEGOTIATIONS WITH EU ARE MOVING MORE SLOWLY THAN BUSINESSES WOULD HAVE HOPED. COUPLED WITH POLITICAL UNCERTAINTY, THIS IS LEADING TO CAUTION”​

* ‍“IN LONDON, WE ARE HAPPY NOT TO BE DELIVERING SPECULATIVE BUILDINGS IN SHORT TERM”​

* ‍“OVER NEXT SIX MONTHS, WE WILL CONTINUE TO FOCUS ON ASSET MANAGEMENT AND PREPARATIONS FOR FUTURE INVESTMENT AND DEVELOPMENT”​

* REVENUE PROFIT OF £203M IN SIX MONTHS ENDED 30 SEPTEMBER 2017 (VERSUS £193M)‍​

* LOSS BEFORE TAX £(33)M IN SIX MONTHS ENDED 30 SEPTEMBER 2017 (VERSUS £(95)M)‍​ Further company coverage: (Reporting by Dasha Afanasieva)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below