We publish our results twice a year in May and November. In addition, we also hold a capital markets day on an annual basis. A full property valuation of our portfolio is undertaken every six months and is reported in our May and November results.
Change in presentation of segmental financial information
To support our new strategy, we are changing the way we report financial information, both internally and externally. This new structure better reflects the way in which the business is now being managed. We'll continue to report externally on the total Combined Portfolio, as we did for the 31 March 2020 year end. However, instead of analysing the Combined Portfolio between our Office, Retail and Specialist assets, it will now be analysed between four segments: Central London, Regional retail, Urban opportunities and Subscale sectors. The Group’s segmental information will also now be presented in a format which reflects these changes.
Changes in performance measures
In October 2019, EPRA published new Best Practice Recommendations (BPR) for financial disclosures by listed real estate companies. Landsec has adopted these guidelines for the year ended 31 March 2020 and considers EPRA NTA to be the most relevant measure for the Company’s business. EPRA NTA will now be Landsec’s primary measure of net asset value, replacing previously reported EPRA net assets and EPRA net assets per share measures. Total business return will also now be calculated based on EPRA NTA.
For comparative purposes, the document below shows Landsec’s previous net asset value measures as presented in its Annual Report for the year ended 31 March 2019 and its half-yearly announcement for the six months ended 30 September 2019 restated according to the new BPR guidelines.
EPRA has published an FAQ document on its new BPR guidelines which can be found here.
Annual results 2020 - transcript
.pdf 247.14 KB
Annual results 2020 - presentation
.pdf 9.28 MB
Annual results 2020 - appendices
.pdf 1.62 MB
Annual results 2020 - announcement
.pdf 797.95 KB
Half-yearly results 2019 presentation and Q&A transcript
.pdf 213.61 KB
Half-yearly results 2019 appendices
.pdf 1.01 MB
Half-yearly results 2019 announcement
.pdf 712.44 KB
Half-yearly results 2019 presentation
.pdf 13.6 MB
Landsec Capital Markets Day 2019 - presentation slides
.pdf 22.37 MB
Financial reporting changes September 2019 (Excel)
.xls 102 KB