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Retail closures hit Land Securities' portfolio, loss widens

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May 14 (Reuters) - British property developer Land Securities Group on Tuesday reported a wider loss for the year due to a steep decline in the value of its retail assets, as pressure on retailers led to higher vacancies.

The company, which manages the Bluewater shopping centre in southeast England, reported a loss before tax of 123 million pounds ($159.30 million) for the year ended March 31, compared to a loss of 43 million pounds a year ago. ($1 = 0.7721 pounds) (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Bernard Orr)

Source - Reuters

About the author

Philip Scott

Head of Equities, Director

Philip has worked as a Private Client Stockbroker for nearly 20 years, commencing his career in Operations with Rensburg Sheppards (now part of Investec plc) before spending 9 years with Killik & Co advising on and directly managing portfolios. He joined SI Capital in 2006 to head up the Private Client Advisory desk.

Philip is a regular contributor to local media commenting on stock market dynamics and is a Chartered Member of the Chartered Institute for Securities & Investment (MCSI). His RDR qualification gained special recognitionfrom the CISI for achieving the highest combined pass mark in the country for the Investment Advice Diploma in 2012.

“At SI Capital I enjoy being part of a talented team who collectively share the same desire to provide excellence in service.  My focus is to ensure that each client receives effective and optimal management of their assets.”

Philip lives locally, is married with 2 daughters and is an avid sports fan (if now predominantly from the sidelines).  His other interests include music and film.

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