Its latest results show statutory pre-tax profit fell from £1.3bn in 2016 to £195m in the year once income from disposals was taken into account.
IFRS pre-tax profits though, dropped to £195m, down from £1.3bn past year.
Still, British Land reported 1.7m sq ft of lettings and renewals "despite the low level of vacancy", eight per cent ahead of estimated value, and added £22m of rent.
British Land confirmed its commitment to pushing ahead with the huge 19 ha mixed-use development at Canada Water, a planning application for which is expected by the end of the year, despite seeing the value of the scheme fall by 10.8 per cent following a reassessment.
The company also announced a final quarterly dividend of 7.3 pence, up 3 percent, and proposed a first-quarter dividend of 7.52 pence.
We also look forward with cautious optimism as we believe that we can generate incremental returns by allocating capital to development opportunities we have created, whilst keeping risk at an appropriate level and maintaining flexibility to respond to changes in our markets.
He did highlight that the uncertainty in property markets meant businesses were taking longer to commit to taking space and being more thorough in their assessments.
Michael Moore prépare un nouveau documentaire sur Donald Trump
D'après le magazine Variety , Michael Moore a réalisé en secret un documentaire sur la victoire de Donald Trump. Ils ont promis un récit sortant du cadre de tout ce qui est affirmé depuis le début de la présidence de M.
The company reported a 7.4 percent increase in full-year underlying profit to 390 million pounds ($503.61 million).
The FTSE-100 company said on Wednesday that adjusted fiscal 2017 net asset value a share fell 0.4% to 915 pence, though that was better than some analysts' expectations.
Shares dipped 1.34 per cent to 665.00p in early trading.
Analyst Nicholas Hyett at Hargreaves Lansdown said the headline numbers were "actually pretty good, valuations haven't tumbled and rental income has remained robust, even improved" and that the continued steady growth of the dividend "will be what matters most for many investors".
He does though note, that the firm is "clearly uncomfortable about the future".
"We are reporting a good set of results today despite an uncertain environment over the last 12 months", Grigg said. Speculative developments have been reined right back and leverage is falling as the group sells some high profile assets, including a 50% stake in the Cheesegrater.
The shares trade on 26% discount to FY17 NAV and yield 4.3%, with Numis increasingly positive on the broader sector.
- Tottenham fans react to Kieran Trippier's performance, compare him to Kyle Walker
- How the NHS cyber attack was halted by British blogger
- Sinclair Buying Tribune Media After Outfoxing, Bidding Others
- Twitter HILARIOUSLY ROASTS James Harden After Godawful Performance in Game 6 (TWEETS)
- Trump's National Security Advisor: WannaCry Attack 'Under Control'
- Who was in Trump's meeting with the Russians?
- Betts, Bradley go deep to lift Red Sox over Cardinals 6-3
- Run TV station under attack in east Afghanistan
- La République en marche publie une liste étoffée de 511 candidats — Législatives
- European Union demands talks with United States over possible airline laptop ban