British Land changes quarterly reporting format

BRITISH LAND is to change the way it reports its results for the first and third quarters.

The company has concluded that providing full quarterly financial reports along with property valuations relative to the information available from an interim management statement does not justify the cost.

With effect from the first quarter of 2012/13, British Land will publish interim management statements for the first and third quarters of the year which will be accompanied by a conference call.

In September last year, Accountancy Age was shown a European Commission draft directive that proposed abolishing quarterly financial reports, saying their value is questionable when set against administrative costs, particularly when it comes to smaller companies.

British Land will continue to pay dividends quarterly.

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