LONDON (dpa-AFX) - Land Securities Group plc (LAND.L), a real estate development company, Tuesday reported a loss before tax of 619 million pounds for the full year, mainly impacted by 7.7% decline in portfolio value, compared with a profit before tax of 869 million pounds in the previous year.
Net loss for the period was 622 million pounds or 83.6p per share, compared with a profit of 875 million pounds or 117.1p per share in the prior period.
EPRA earnings, however, increased to 393 million pounds or 53.1p per share from 355 million pounds or 47.8p per share last year.
Excluding the benefit of increased surrender premiums, underlying EPRA EPS was 50.1p.
Revenue for the year rose to 791 million pounds from 679 million pounds in the previous year.
Net rental income for the year increased by 51 million pounds to 561 million pounds.
Net assets per share declined to 945p from 1,070p last year.
The Board has recommended a final dividend of 12.0p per share to be paid on July 21 to shareholders registered at the close of business on June 16.
Looking forward, the company expects EPRA EPS for the current year to be broadly stable compared with last year's underlying EPS of 50.1p.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2023 AFX News
