LONDON, May 13 /PRNewswire/ -- Land Securities, the UK commercial property
group, today announced
prelminary results for the year ended 31 March 2009.
In a video interview Land Securities Group Chief Executive Francis Salway
said:
"We recognise that this has been the year when there's been the sharpest
falls in value on record for UK commercial property, and we've not been
immune to that. And because valuation change now flows through to our pre-tax
profit or loss, that has resulted in us announcing a substantial loss."
Following the sale of Trillium, he said the company was now "focused on
two best-in-class businesses covering London offices and Retail", which
enjoyed unrivalled occupier relationships. He also underlined that the
demerger plan was off the agenda.
Martin Greenslade, Group Finance Director, talks about actions taken to
protect the balance sheet including disposals, bank facilities and the rights
offering earlier this year.
The interview and transcript are available now on
http://w3.cantos.com/land_securities.
It's free to view. All you need to do is register at
http://www.cantos.com. Cantos.com, the online financial broadcaster,
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