Land Securities released relatively strong H1 18 results, despite a weak retail market. Revenue was up by +10.3% to £224m. Profit before tax for the period increased by +24% yoy to £42m. This is explained by net rental income rising (+1.65%) to £308m, driven mainly by the London Portfolio (+7.6% yoy to £155m) and less so by the Retail Portfolio (-3.7% yoy to £153m). This has led to an improvement in the adjusted EPS, which has risen by +17.9% to 30.3p (vs. 29.6p
13 Nov 2018
Positive figures in the UK's challenging market
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Positive figures in the UK's challenging market
Land Securities Group PLC (LAND:LON) | 656 0 0.0% | Mkt Cap: 4,889m
- Published:
13 Nov 2018 -
Author:
Laura Parisot -
Pages:
3
Land Securities released relatively strong H1 18 results, despite a weak retail market. Revenue was up by +10.3% to £224m. Profit before tax for the period increased by +24% yoy to £42m. This is explained by net rental income rising (+1.65%) to £308m, driven mainly by the London Portfolio (+7.6% yoy to £155m) and less so by the Retail Portfolio (-3.7% yoy to £153m). This has led to an improvement in the adjusted EPS, which has risen by +17.9% to 30.3p (vs. 29.6p