LONDON (dpa-AFX) - Real estate investment trust Land Securities Group Plc. (LAND.L) reported that its loss before tax for the six-month period ended 30 September 2019 was 147 million pounds, compared to profit before tax of 42 million pounds in the same period in the prior year. The loss reflects a greater fall in the value of the company's assets in the latest period.
Basic loss per share for the period was 19.6 pence, compared to earnings of 5.9 pence in the year-ago period.
However, adjusted earnings per share increased 0.3 percent to 30.4 pence from 30.3 pence a year ago, as a result of the increase in revenue profit.
Revenue profit for the six months rose 0.4 percent to 225 million pounds from 224 million pounds in the prior-year period. The increase in revenue profit was driven by a 1 million pounds increase in net rental income.
The company said it will pay a second quarterly dividend of 11.6 pence per share on 3 January 2020 to shareholders registered at the close of business on 29 November 2019. This will be paid wholly as a Property Income Distribution.
Taken together with the first quarterly dividend of 11.6 pence per share, paid wholly as a Property Income Distribution on 4 October 2019, the first-half dividend will be 23.2 pence per share, representing an increase of 2.7 percent and a total payment of 172 million pounds.
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