LONDON (dpa-AFX) - Land Securities Group (LAND.L) reported Friday that its fiscal 2025 profit before tax was 393 million pounds, compared to prior year's loss of 341 million pounds.
Basic earnings per share were 53.0 pence, compared to loss of 43.0 pence a year ago.
EPRA earnings edged up 0.8 percent to 374 million pounds from 371 million pounds last year. EPRA earnings per share were 50.1 pence, same as the prior year.
Net assets per share grew to 877 pence from 863 pence last year.
Gross rental income dropped to 624 million pounds from 641 million pounds last year.
Segment Net rental income was 552 million pounds, up from 550 million pounds a year ago. Like-for-like growth was 5 percent.
Further, the company said its total dividend for the year of 40.4 pence is up 2 percent, in line with its guidance of low single digit percentage growth.
Looking ahead, the company said, 'We are on track to reduce overhead cost by a further 10 percent over the next two years, with additional upside to EPS to come from recycling £3bn of capital out of offices and non-core assets into major retail and residential. All this means we see the potential to deliver c. 20 percent growth in EPS by FY30 and with c. 2-4 percent growth in EPS expected for FY26, supported by c. 3-4 percent growth in like-for-like net rental income, we are well on track.'
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