Our locations

Land Securities has produced a resilient performance against the backdrop of current market uncertainty thanks to the actions we've taken to transform our portfolio and reduce gearing over the last few years

CEO’s statement

Robert Noel reports on how we have produced a resilient performance against the backdrop of current market uncertainty.

Our locations

Performance highlights

We buy, sell, manage and develop office, retail, leisure and residential space. Here we show our performance over the last six months.

Financial Highlights

  • Revenue Profit £m

  • Adjusted Diluted Earnings Pence per share

  • Adjusted Diluted Nav Pence per share

Financial Highlights

  • (Loss) / Profit Before Tax
    Including Valuation Surplus

    -£95.0m

    2015: £707.9m

  • Ungeared Total Property Return3

    0.5%

  • Total business return1

    -0.5%

  • Dividend per Share2

    17.9p

    2015: 16.3p

  1. Total Shareholder Return and total business return provide shareholders with the clearest guide to the Group’s progress in financial terms
  2. We aim to deliver a progressive dividend.
  3. For further details, see the Business Analysis section included within the half-yearly results.

Financial Highlights

  • Combined Portfolio value

Portfolio

We’ve followed a clear strategy to transform the quality of our business and are well-placed to take advantage of any opportunities that may lie ahead.

Strategy

We aim to buy assets when values are falling or low, start to develop early in the cycle, work closely with customers during their leases, and sell assets at appropriate points in the cycle.

Performance

Our shift to higher quality assets, a longer weighted average unexpired lease term and low development exposure has positioned us well for the current market environment.

1.8%

Valuation deficit

£7.9m

Investment lettings

£6.0m

Development lettings

Strategy

We acquire when we see an opportunity to transform under-managed property into a great destination and sell when we see better opportunities elsewhere. We are proactive managers, constantly looking to enhance our space in line with changing needs.

Performance

We have sold our secondary shopping centres and standalone foodstores over the past few years, reinvesting the proceeds into a retail and leisure portfolio of destination assets that offer visitors a great experience. As a consequence, we are well-placed to meet the evolving requirements of our customers and consumers.

1.9%

Valuation deficit

£7.1m

Investment lettings

£0.9m

Development lettings

Top properties

Our top ten assets by value.