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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  The British Land Company PLC    BLND   GB0001367019

THE BRITISH LAND COMPANY PLC

(BLND)
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British Land : top boss to step down, finance head Carter named as next CEO

09/10/2020 | 03:53am EST

Mall and office owner British Land said on Thursday its Chief Executive Officer Chris Grigg would step down after 11 years in the role, handing over the reins to current finance head Simon Carter at a time when losses are mounting due to the coronavirus crisis.

Grigg's departure comes months after the company, which owns London's Broadgate and Paddington Central complexes, posted a staggering 1.1 billion pound ($1.43 billion) annual losses in May as the outbreak shut down thousands of shops and forced some chains into administration.

Carter, who has been the chief financial officer at the company since 2018, will take over from Grigg on Nov. 18. Carter's successor will be announced in due course.

Shares in the company, which owns a range of office-led London campuses and retail spaces, were flat in early trading after having plunged 44.60% so far this year.

The pandemic has already forced British Land rival Intu into administration earlier in the year, while Hammerson last month announced plans to raise 825 million pounds to weather the crisis.

British Land has also been struggling with a slump in the value of its properties and in May conducted a series of rent deferrals and cancellations to help its tenants ride out the crisis.

(Reporting by Samantha Machado in Bengaluru; Editing by Rashmi Aich)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
HAMMERSON PLC 7.61% 23.33 Delayed Quote.-16.67%
THE BRITISH LAND COMPANY PLC 3.14% 486.5 Delayed Quote.-23.84%
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Financials
Sales 2021 482 M 647 M 647 M
Net income 2021 -945 M -1 268 M -1 268 M
Net Debt 2021 3 168 M 4 251 M 4 251 M
P/E ratio 2021 -4,79x
Yield 2021 3,42%
Capitalization 4 508 M 6 054 M 6 051 M
EV / Sales 2021 15,9x
EV / Sales 2022 16,1x
Nbr of Employees 528
Free-Float 98,3%
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Technical analysis trends THE BRITISH LAND COMPANY PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 416,79 GBX
Last Close Price 486,50 GBX
Spread / Highest target 13,1%
Spread / Average Target -14,3%
Spread / Lowest Target -41,4%
EPS Revisions
Managers
NameTitle
Christopher Grigg Chief Executive Officer & Executive Director
Tim Score Chairman
Joff Sharpe Head-Operations
Simon Carter Chief Financial Officer & Director
Sally Jones Head-Strategy, Digital & Technology
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