- British Land Company
- 20 May 2026 07:45:01
Source: Sharecast
Underlying profits rose 5% to £294m in the 12 months to 31 March, with underlying earnings per share up 1% at 28.9p.
The REIT, whose portfolio value climbed 2.3% over the fiscal year to £10.06bn, said it leased 3.8m square foot of property during the period at 7.2% ahead of estimated rental value, with a further 1.1m sq ft under offer at 12.9% ahead of ERV.
Some 96.9% of the portfolio was occupied by the end of the period, with campus occupancy at 94.7% and retail and London urban logistics occupancy at 99.0%.
The company said results benefited from its leading positions in campuses and retail parks, where demand is growing, and supply remains constrained.
"While the geopolitical and interest rate backdrop has become more uncertain, the occupational fundamentals underpinning our portfolio are as strong as I have seen them," said chief executive Simon Carter.
"Central London office net take-up is at its highest level in 20 years and our retail parks are 99% occupied."
The company declared a final dividend of 10.8p per share, taking the full-year payout up 1% to 23.12p per share.
Looking ahead, the company said it expects FY27 earnings per share to rise to at least 30.5p, helped by like-for-like net rental growth at the top end of the estimated 3-5% range. EPS are expected to grow by 3-6% per annum in subsequent years.
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