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Land Securities increases its 2018 first half dividend by 14.7%

Investment Tools Ltd.
Land Securities increases its 2018 first half dividend by 14.7%

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%

Companies mentioned

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