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We publish our results twice a year in May and November. In addition, we also hold a capital markets day on an annual basis. A full property valuation of our portfolio is undertaken every six months and is reported in our May and November results.
Changes in performance measures
In October 2019, EPRA published new Best Practice Recommendations (BPR) for financial disclosures by listed real estate companies. Landsec has adopted these guidelines for the year ended 31 March 2020 and considers EPRA NTA to be the most relevant measure for the Company’s business. EPRA NTA will now be Landsec’s primary measure of net asset value, replacing previously reported EPRA net assets and EPRA net assets per share measures. Total business return will also now be calculated based on EPRA NTA.
For comparative purposes, the document below shows Landsec’s previous net asset value measures as presented in its Annual Report for the year ended 31 March 2019 and its half-yearly announcement for the six months ended 30 September 2019 restated according to the new BPR guidelines.
EPRA has published an FAQ document on its new BPR guidelines which can be found here.