Disposals hit Land Securities' earnings

Real estate investment trust kingpin Land Securities claimed to have put in a resilient first half performance though earnings were hit by the group's disposals programme.

Real estate investment trust kingpin Land Securities claimed to have put in a resilient first half performance though earnings were hit by the group's disposals programme.

Resilient is one of those terms used when growth is subdued or negative, and such is the case with Land Securities, where adjusted diluted net asset value (NAV) per share edged up over the reporting period by a penny to 864p, while profit before tax was down by just under two-thirds to £131.4m from £378.8m at the interim stage of last year.

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