REG - Land Sec. Group PLC - Landsec results for the year ended 31 March 2022

Land SecuritiesAnnouncement

17/05/2022 07:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220517:nRSQ7450La&default-theme=true

RNS Number : 7450L  Land Securities Group PLC  17 May 2022

17 May 2022

 

 

LAND SECURITIES GROUP PLC ("Landsec")

Results for the year ended 31 March 2022

Landsec delivers strong operational and financial performance and clear
strategic progress

 

Mark Allan, Chief Executive of Landsec, commented:

 

"Landsec has delivered strong operational and financial results despite the
turbulence within the UK economy. The actions we have taken, driven by our
strategic focus on three distinct areas have resulted in record leasing in our
London office portfolio, a return to growth in our major retail destinations
and clear, substantive progress in growing our mixed-use urban neighbourhood
portfolio. We continue to recycle capital out of mature assets, whilst our
pipeline now offers the opportunity to invest £3bn in sustainable London
offices and mixed-use development over the next five years at attractive
returns.

 

Landsec is in a strong position, financially and operationally, and we expect
delivering on our strategy to drive material growth in income and, on average,
a mid to high single digit annual return on equity over time.

 

This position affords us many opportunities, not least the ability to lead
change, which is why today we have raised the bar for ourselves and our
industry by setting out ambitious targets to reduce embodied carbon through
development as well as clear plans to enhance social mobility both in our
industry and through the places where we invest.

 

With the expertise we have within the business and the momentum built, I am
confident that we are on the right path and will be able to navigate the wider
macro uncertainties facing the economy today."

 

Please click on the associated PDF to view the full announcement:

http://www.rns-pdf.londonstockexchange.com/rns/7450L_1-2022-5-17.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/7450L_1-2022-5-17.pdf)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  FR ZZGMKVNRGZZG