Property boss cautions over Brexit discussions
The chief executive of property heavyweight Land Securities has warned that the Brexit negotiations are not moving fast enough and the hold-up is sparking unnecessary caution among UK businesses.
Robert Noel said the talks are “moving more slowly than businesses would have hoped,” adding: “Coupled with political uncertainty, this is leading to caution.
“However, our balance sheet is healthy and we have the tal- ent, firepower and experience to thrive,” stressed Noel.
His comments came as the group behind major retail assets such as Glasgow’s Buchanan Galleries and the Almondvale South Retail Park in Livingston, posted pre-tax losses of £33 million for the half-year to 30 September against losses of £95m a year earlier.
Revenue profit – the group’s preferred measure – lifted 5.2 per cent to £203m. Landsec declared a dividend per share of 19.7p, up more than 10 per cent on a year earlier.