Overview
- British Land reported on Wednesday that underlying profit for the year to March rose 5% to £294 million and earnings per share increased to 28.9p, slightly above expectations.
- The company said profit before tax jumped 32% to £450 million and the portfolio value rose about 2% to roughly £10 billion.
- Leasing across British Land’s campus portfolio hit a multi-year high and office occupancy stood at about 95% while retail parks were nearly full at 99%, reflecting stronger central London take-up.
- Executives said new demand is being driven by AI and global tech occupiers, with deals linked to firms such as Anthropic and other large tech groups for premium, sustainability-led campus space.
- Management reiterated guidance for at least 5% EPS growth to 30.5p but warned that renewed Middle East tensions and higher interest rates could weigh on investment sentiment and capital flows.