Land Securities 2018 interim results
Revenue profit up 10.3% to £224m with net rental income up and costs down
- Profit for the period of £42m (2017: £34m)
- Adjusted diluted earnings per share up 17.9% to 30.3p
- First half dividend up 14.7% to 22.6p
- EPRA net assets per share(1) down 1.4% to 1,384p
- Combined Portfolio valued at £14.0bn, with a valuation deficit of £188m or 1.4%
London offices up 0.2%; central London shops down 2.9%
Shopping centres and shops down 2.9% with outlets flat; retail parks down 4.5%; leisure and hotels down 0.2%
- High occupancy with like-for-like voids down to 1.9% (31 March 2018: 2.2%)
- Ungeared total property return 0.8%
London Portfolio 1.6% (IPD Quarterly Universe 2.8%)
Retail Portfolio (0.2)% (IPD Quarterly Universe (1.3)%)
- Total business return 0.4%
