British Land has suffered a £1.3bn IFRS fair value loss on the back of the
100 giant said in its third quarter report to 31 December that the reflected
a pre-tax IFRS loss on ordinary activities.
The loss comes as a consequence of IFRS fair value requirements relating to
its investments. For the same period in 2006, the company made a £381m profit.
Because of the value decline, its gearing jumped to 45%.
British Land chairman Chris Gibson-Smith said: ‘Macro-economic uncertainty
and the global credit crunch have depressed property values. However, the worst
should now be behind us, though uncertainties remain on timing and extent of the
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars