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Land Securities FY Revenue Profit Rises - Quick Facts

Land Securities Group plc (LAND.L) reported that its revenue profit for the fiscal year ended 31 March 2019 was up 8.9% from prior year, reflecting the benefit of income from completed developments, high occupancy, uplifts at rent review and the effect of refinancing some bonds in the previous financial year.

First-quarter pretax loss was 123 million pounds compared to a loss of 43 million pounds, previous year. Loss per share was 16.1 pence compared to a loss of 5.8 pence. Revenue profit improved 8.9% to 442 million pounds. Adjusted earnings per share were up 12.4% to 59.7 pence.

First-quarter revenue was 757 million pounds compared to 830 million pounds, last year.

The Group recommended a final dividend of 11.65 pence to be paid on 25 July 2019 entirely as a Property Income Distribution to shareholders registered at the close of business on 21 June 2019. The full year dividend will be up 3.1% at 45.55 pence per share. The first quarterly dividend for 2019/20 will be 11.6 pence per share.

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