LONDON (dpa-AFX) - The British Land Company (BRLAF.PK, BTLCY.PK, BLND.L) reported a pretax loss of 1.1 billion pounds for the year ended 31 March 2020 compared to a loss of 319 million pounds, prior year. Loss per share was 110.0 pence compared to a loss of 30.0 pence. The Group noted that valuation decline led to IFRS loss for the fiscal year period. Underlying profit was 306 million pounds, a decline of 10.0% from previous year. Underlying earnings per share was 32.7 pence compared to 34.9 pence.
Fiscal year revenue declined to 613 million pounds from 904 million pounds, last year. Net rental income was 478 million pounds compared to 532 million pounds.
The value of the retail portfolio declined 26.1% as ongoing structural challenges were exacerbated at the year end valuation date by the early effects of Covid-19. Overall, the portfolio was down 10.1%, for the fiscal year.
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