Market Overview

British Land H1 Profit Surges

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British Land Co PLC (OTC: BTLCY) reported a rise in its first-half profit.

British Land's underlying profit before tax gained 6.2% to 155 million pounds ($242.7 million), while underlying profit before tax jumped to GBP1,043 million on a statutory basis.

Underlying earnings per share rose 5.5% to 15.3 pence.

Net income climbed to 998 million pounds, or 97.9 pence per share, compared to 427 million pounds, or 42.8 pence per share, in the year-ago period.

British Land's net asset value increased 11.8% to 769 pence.

The company declared a quarterly dividend of 6.92 pence.

The value of its portfolio climbed 7.2% to GBP12.8 billion.

British Land shares fell 0.47% to close at $11.55 yesterday.

 

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