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
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
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 ...
jh
-
Emerging markets boast top growth stocks at bargain pricesOpinion Lim Wen Loong, investment director at Ashoka WhiteOak Capital, selects three growth stocks where he’d put his money
-
Beware the bubble in bitcoin treasury companiesBitcoin treasury companies are no longer coining it. Short this one, says Matthew Partridge
