London · Delayed Price · Currency is GBP · Price in GBX Land Securities Group Earnings Call Transcripts
Fiscal Year 2026
-
Occupancy and rental growth reached multi-decade highs, driving 4.6% like-for-like net rental income growth and a 2.2% EPS increase. Strategic capital allocation and reduced development exposure support a 5% compound annual EPS growth outlook through FY 2030.
-
Strong like-for-like income growth and high occupancy drove EPS and dividend increases, with robust capital recycling and a focus on retail and office assets. Guidance for income and EPS growth was raised, supported by strong demand and operational efficiency.
Fiscal Year 2025
-
Strong operational performance drove EPS and dividend growth, with robust like-for-like income gains in London and retail. Strategic capital allocation supports a positive outlook for sustainable EPS and dividend growth, targeting 20% EPS growth by 2030. Continued cost reductions and portfolio repositioning underpin future returns.
-
A major portfolio rebalancing will shift capital from offices to retail and residential, targeting 20% EPS growth by 2030. Strong operational performance, cost efficiencies, and a robust residential pipeline underpin sustainable income and dividend growth.
-
Like-for-like net rental income rose 3.4% year-over-year, with return on equity at 3.9% and EPS guidance raised for the full year. Portfolio repositioning and strong demand in prime retail and office assets drove outperformance, while balance sheet strength and operational efficiencies support continued growth.