West End commercial landlord Shaftesbury posted a smaller annual loss thanks to its hospitality and retail firm tenants rebounding after lockdown.
“There has been great progress on Shaftesbury’s road to recovery in recent months,” chief executive officer Brian Bickell said in a statement yesterday.
However, he cautioned that there was “still further to travel before certainty and confidence fully returns” to the central London shopping district.
A per-share measure that reflects the value of its buildings – EPRA Net Tangible Assets – fell 15 per cent to 6.19 pounds, while overall portfolio valuation declined 5.4 per cent on a like-for-like basis.
Loss after tax for the year ended 30 September narrowed to £94.9m ($259.59 million), from £699.5m and recommended a final dividend of 4 pence per share.