The British Land Company PLC Full Year Results
Chris Grigg, Chief Executive said: "We have delivered another strong set of results with performance underpinned by strengthening rental growth across our business. We are focusing the business around long term trends and continue to see the benefits of the investments we have made in recent years. While we are mindful of the impact of market uncertainty, our high quality portfolio, flexible development pipeline and robust financial position continue to mean that our business is both resilient and well placed for the long term."
Strong full year results
• Total accounting return of 14.2% (2014/15: 24.5%)
• Underlying Profit +16.0% to £363 million; IFRS PBT of £1,331 million (2014/15 £1,789 million) reflecting valuation uplift of £950 million (2014/15 £1,582 million)
• EPRA NAV +10.9% to 919 pence (932p pre Budget stamp duty increase); IFRS Net Assets at £9.6 billion (2014/15 £8.6 billion)
• Final quarterly dividend of 7.09 pence (+2.5%); bringing the full year to 28.36 pence (+2.5%)
• Full year dividend of 29.20 pence per share proposed for 2016/17, +3.0%; first quarter 7.30 pence
