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Broadgate developer British Land posts annual loss as pandemic wipes £2bn off portfolio British Land has posted its third consecutive annual loss as pandemic hits valuation. British Land posted its third consecutive annual loss as empty shops and offices squeezed the valuation of its portfolio.  The commercial landlord said the value of its portfolio fell 10.8 per cent from £11.1bn to £9.1bn in the year ended 31 March. It reported a pre-tax loss of £1.08bn compared with a loss of £1.11bn a year earlier.  The structural challenges in retail persist as companies move onl...

Poundland owner Pepco's shares lifted higher after launching on the Warsaw stock market today. The discount retail group, which also operates under the Pep&Co and Dealz brands, rose by more than 10pc on the opening bell. Pepco had priced the initial public offering (IPO) at 40 zlotys per share, giving it a valuation of 23 billion zlotys (£4.4bn). Andy Bond, chief executive of Pepco and former Asda boss, said: "As a listed company, we look forward to continuing our strong store growth and delivering our successful strategy as Europe's pre-eminent discount variety retailer." A new rove...

LONDON BRIEFING: M&S weathers virus with help from government, Ocado Wed, 26th May 2021 08:21 (Alliance News) - Clothing, homewares and food retailer Marks & Spencer on Wednesday reported a fall in revenue and swing to loss for its recently ended financial year, but hailed its transformation in the period. Revenue fell by 10% to GBP9.16 billion in the year to April 3 from GBP10.18 billion, with M&S swinging to a pretax loss of GBP209.4 million from profit of GBP67.2 million the year before. "Our results for the year bear the impact of the pandemic spanning the beginning of the first natio...

Covid sent shopper numbers plunging and left offices empty. It resulted in a third annual loss in a row for British Land, whose empire includes Sheffield's Meadowhall shopping centre (pictured) .

Skyscrapers Rising Next to Vacant Towers Mark New City of London May 19 2021, 8:12 PM May 19 2021, 9:31 AM May 19 2021, 8:12 PM (Bloomberg) -- When the Gherkin tower opened 17 years ago, its skyline-defining silhouette heralded a new era in the low-rise City of London. Now, a spate of new planned skyscrapers threaten to erase it from view and from relevance. (Bloomberg) -- When the Gherkin tower opened 17 years ago, its skyline-defining silhouette heralded a new era in the low-rise City of London. Now, a spate of new planned skyscrapers threaten to erase it from view and from relevance. As on...