By David Parsley2019-11-12T08:10:00
Landsec has swung to a £147m loss and reported a 3.2% fall in net assets per share as the group’s retail portfolio continued to lose value following a raft of insolvencies and store chain collapses in the first half of the year.
While revenue profit for the six months to 30 September rose 0.4% £225m, the commercial property giant saw NAV per share fall from 1,341p to 1,298p as the valuation deficit jumped from £188m to £368m. Earnings per share went from 5.9p at the same point last year to a loss of 19.6p, while the group’s loan-to-value nudged up to 28.1% and debt rose from £3.7bn to £3.8bn.
You must be logged in to continue
Register for free to finish this article
Registration includes the following benefits:
To access this article REGISTER NOW
Four articles not enough? SUBSCRIBE for unlimited access to over 100 weekly articles and our comprehensive archive. For as little as £5 per week.