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LONDON, UNITED KINGDOM--(Marketwired - Jan 21, 2016) - Land Securities Group PLC (
Robert Noel, Chief Executive, said: "We have had a good third quarter with robust operational performance including record footfall in our shopping centres and continued letting momentum in our development programme. In London, rental value growth continued and the 186,000 sq ft of development lettings we completed in the quarter were ahead of our valuers' most recent estimates. In Oxford, we are transforming the city's major shopping centre and have made good leasing progress two years ahead of opening. We are delivering on our clear strategy for the business and, despite economic and political uncertainty, are confident in the strength of demand for our schemes."
(1) Excludes Haymarket House, SW1, an asset held for sale at 30 September 2015 at the agreed sale price
(2) This relates to the completion of 78 of the 85 apartments pre-sold at Kings Gate, SW1
Retailer sales and footfall
A brief Q&A conference call is being held today at 08:30 GMT
Conference call details:
Dial-in number: +44 (0) 1452 560304
Call title: Land Securities Q3 IMS
Call ID number: 9176095
A replay facility will be available four hours after completion of the call for seven days
Encore replay details:
UK dial-in number: 08717000145
International dial in number: +44 (0) 1452 550000
Access number: 9176095
This Interim Management Statement ("IMS") may contain certain "forward-looking statements" with respect to Land Securities Group PLC and the Group's financial condition, results of operations and business.
By their very nature, forward-looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future, some of which relate to factors that are beyond the Group's ability to control or estimate precisely. There are a number of such factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements and consequently such statements are not guarantees of future performance.
Any written or verbal forward-looking statements made in this IMS which are attributable to Land Securities Group PLC or any other member of the Group or persons acting on their behalf are expressly qualified in their entirety by the factors referred to above. Each forward-looking statement speaks only as of the date of this IMS or on the date on which the Forward-looking statement is made. Except as required by any legal or statutory obligation, Land Securities Group PLC does not intend to update any forward-looking statements.
Nothing contained in this IMS should be construed as a profit forecast or an invitation to deal in the securities of Land Securities Group PLC.
For further information, please contact Land Securities:
Miles Webber / Molly Neal
T +44 (0)20 7024 5465/5460
T +44 (0)20 7024 5185