Sunday, November 9, 2008

And these people are supposed to be experts?

Land Securities drops demerger as losses soar

LAND SECURITIES is expected to lay bare the full extent of the commercial-property bloodbath this week when it puts plans for a demerger on ice and unveils a shock 20% drop in the net value of its assets. A virtual shutdown in commercial-property lending has combined with falling occupier demand and a steep decline in rents to push values down sharply since the collapse of Lehman Brothers in September. Analysts were this weekend slashing forecasts for Land Securities’ half-year results to show a fall of more than 20% in its net asset value per share from £19.56 to between £15 and £16.

Posted by mark wadsworth @ 05:13 PM (514 views)
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