Land Securities Group (LAND)

Sector:

Property Investment Trusts

Index:

FTSE 100

658.20p
   
  • Change Today:
      0.40p
  • 52 Week High: 725.20
  • 52 Week Low: 559.40
  • Currency: UK Pounds
  • Shares Issued: 744.89m
  • Volume: 1,509,195
  • Market Cap: £4,902.85m
  • RiskGrade: 178

St Modwen upbeat as 2019 asset values rise

By Sean Farrell

Date: Tuesday 04 Feb 2020

LONDON (ShareCast) - (Sharecast News) - St Modwen Properties was upbeat about its prospects after the commercial property company posted an increase in asset values for 2019.
Net asset value per share rose 3% to 484.2p in the year to the end of November despite a 7.8p exceptional provision for a legacy project.

Underlying pretax profit rose to £81.4m from £72.4m a year earlier. Including a £22.5m exceptional provision profit fell to 58.9m.

St Modwen increased its annual dividend by 22.5% to 8.7p a share. The FTSE 250 company's shares rose 3.3% to 505p at 0916 GMT.

The results are St Modwen's last under the leadership of chief executive Mark Allan, who is joining Land Securities as CEO on 1 May. Allan said the company grew strongly and was on track to achieve a significant improvement in return on capital.

Since taking over three years ago Allan has sold more than £800m of retail assets to reduce debt and shift the company's business towards warehouses, serving online merchants, and housebuilding.

Allan said the Conservatives' victory at the December general election had reduced short-term political uncertainty but doubts about the economic outlook and the UK's trading position remained.

"We remain mindful of the uncertainty this could cause in the near term and the potential effects in the long term," Allan said. "While we will therefore maintain a conservative level of borrowings and we have the flexibility to adjust our activity quickly in case of any unexpected changes in demand due to the short-cycle nature of our developments, the positive structural growth characteristics in our key sectors provide us with confidence to continue to invest."

Rob Hudson, St Modwen's chief financial officer, will be interim CEO until a new boss is appointed.



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Land Securities Market Data

Currency UK Pounds
Share Price 658.20p
Change Today 0.40p
% Change 0.06 %
52 Week High 725.20
52 Week Low 559.40
Volume 1,509,195
Shares Issued 744.89m
Market Cap £4,902.85m
RiskGrade 178

Land Securities Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
46.17% above the market average46.17% above the market average46.17% above the market average46.17% above the market average46.17% above the market average
53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average
Income Not Available
Growth
79.31% above the market average79.31% above the market average79.31% above the market average79.31% above the market average79.31% above the market average
85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average85.71% above the sector average

What The Brokers Say

Strong Buy 4
Buy 6
Neutral 8
Sell 1
Strong Sell 1
Total 20
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Land Securities Dividends

  Latest Previous
  Q3 Q2
Ex-Div 22-Feb-24 23-Nov-23
Paid 12-Apr-24 02-Jan-24
Amount 9.30p 9.20p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 857,889 @ 658.20p
16:35 508 @ 658.20p
16:35 2,806 @ 658.20p
16:35 5,644 @ 658.20p
16:35 1,528 @ 658.20p

Land Securities Key Personnel

CEO Mark Allan
CFO Vanessa Simms

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