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British Land Slips To Loss In H1 - Quick Facts

British Land Co Plc. (BRLAF, BTLCY,BLND.L) reported Thursday that its IFRS loss before tax for the six months ended 30 September 2018 was 42 million pounds, compared to profit of 238 million pounds in the year-ago period. IFRS basic loss per share for the period was 4.9 pence, compared to earnings of 23.2 pence last year.

Underlying profit was 169 million pounds, down 14.6 percent from 198 million pounds a year ago, primarily due to one-off surrender premia of 20 million pounds in the prior period. Underlying earnings per share dropped 10.4 percent to 17.2 pence from 19.2 pence last year.

Revenue for the period rose to 499 million pounds from 332 million a year ago.

EPRA net asset value per share declined 2.9 percent to 939 pence, with valuations 1.9 percent lower.

Gross rental income dropped to 291 million pounds from 316 million pounds last year. Net rental income declined to 267 million pounds from 297 million pounds a year ago.

The company increased the half-year dividend by 3.0 percent to 15.50 pence.

The company noted that the second interim dividend payment for the quarter ended 30 September 2018 will be 7.75 pence. Payment will be made on 8 February 2019 to shareholders on the register at close of business on 4 January 2019.

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