Business
Land Securities - Half-Year Results Interviews
Land Securities - Half-Year Results Interviews.
About this update from Land Securities Group Plc
[{"type":"text","content":"\n \n\n\n\nLONDON, November 12 /PRNewswire/ -- Land Securities, the UK commercial \nproperties group, announced a pre-tax\nloss of GBP1.74bn, driven by a valuation deficit of GBP1.72bn, but said it\nhad maintained good underlying performance with growth in revenue profit of\n13.3 per cent in the first half of 2008.\n\n\n\n The company also confirmed that its plans to demerge had been put on hold\nbecause of unfavourable market conditions, but stressed that it still saw the\nbenefits of specialisation.\n\n\n\n In a video interview on http://www.cantos.com, Fancis Salway, Group Chief\nExecutive, said:\n\n\n\n \"Our plans for demerger were about creating shareholder value. If the\ncosts of transitioning debt in the current environment are so great that it\nwouldn't create shareholder value then we should stop. And that's exactly\nwhat we've done.\"\n\n\n\n When asked about Land Securities' banking covenants Martin Greenslade,\nGroup Finance Director, highlighted the flexibility of the debt structure,\ndescribing it as a \"progressive regime, not aggressive covenants.\"\n\n\n\n Land Securities will be holding a results presentation today at 9:00am\n(GMT). The live web-cast with interactive Q&A will be available at\nhttp://www.landsecurities.com/interims2008\n\n\n\nThe interview and transcript are available now on http://www.cantos.com.\n\n It's free to view. All you need to do is register at\nhttp://www.cantos.com. Cantos.com, the online financial broadcaster, features\nin-depth interviews, documentaries and webcasts with senior company\nexecutives. If you would like to contact us, please email\[email protected] or phone +44-207-936-1333.\n ","length":1655,"tagName":"div"}]