British Land H1 Profit Surges

British Land Co PLC

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.