British Land defensively positioned

Occupancy, income, estimated rental value and, most importantly of all, underlying profits all rose in the third quarter of property group British Land.

Underlying profit before tax in the October to December quarter rose 6.3% to £68m from £654m the year before. The met asset value per share climbed 8.2% to 593p from 548p a year earlier. The company declared an unchanged third quarter dividend of 6.5p, as previously indicated.

"Of course, the current economic outlook is uncertain, but overall our business is defensively positioned today and will benefit further as economic growth returns," claimed Chris Grigg, the real estate investment trust's Chief Executive Officer.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

More to follow ...

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.