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    BLND   GB0001367019

THE BRITISH LAND COMPANY PLC

(BLND)
  Report
Delayed London Stock Exchange  -  11:35 2022-09-30 am EDT
350.70 GBX   +3.15%
09/28FTSE 100 Closes 0.3% Higher as Bank of England Steps in to Stabilize Bond Market, Pound
DJ
09/16JPMorgan Cuts British Land PT, Affirms Overweight Rating
MT
09/16Goldman Sachs Lowers British Land to Neutral from Buy, Cuts PT
MT
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

FTSE 100 Closes Down 0.2% as Uncertainty Persists

06/29/2022 | 10:58am EDT

The FTSE 100 closed down 0.2% on Wednesday with British Land Co. the biggest faller, down 8.7%, followed by Ocado Group which ended the day down 7.2%. The day's biggest gainers were Standard Chartered, which finished up 2.9%, and then AstraZeneca, which ended up 2.5%. "It's a well-worn phrase that markets don't like uncertainty and at the moment that's all she wrote. Rate hikes are clearly the primary focus with investors trying to second guess when inflation will peak in different nations and how far and fast central banks are likely to raise rates in a bid to make that peak sooner," Danni Hewson, AJ Bell financial analyst, says. Elsewhere, Whitbread said that Dominic Paul has been appointed as its next chief executive, succeeding Alison Brittain who has decided to retire at the end of fiscal 2023.

 
Companies News: 

Capita Sees 2022 Revenue Growth in Line with Views

Capita PLC said Wednesday that revenue for the first half of the year was in line with expectations and that it remains on track to deliver revenue growth in 2022.

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UK Government Minded to Clear Parker-Hannifin Takeover of Meggitt

The U.K. government said late Tuesday that it is 'minded' to accept Parker-Hannifin Corp.'s undertakings to address its concerns over the U.S. company's planned 6.3 billion pound ($7.68 billion) takeover of Meggitt PLC.

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Mulberry FY22 Pretax Profit Rose Significantly

Mulberry Group PLC reported Wednesday a significant rise in pretax profit for fiscal year 2022 and said that its performance for the first quarter of fiscal 2023 is ahead of the same period a year earlier.

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DP Aircraft I to Raise up to $750,000 via Tap Issue

DP Aircraft I Ltd. said Wednesday that it plans to raise up to $750,000 via a tap issue, and that it will use the proceeds as additional working capital.

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Shoe Zone Set to Post Rise in Pretax Profit for FY22

Shoe Zone PLC said Wednesday that it expects to end its fiscal 2022 year with a rise in pretax profit, as its performance for the third quarter has seen strong margin improvements and cost savings.

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PPHE to Launch Share Buyback of Up to GBP1.7 Mln; Dividend Dependent on Performance

PPHE Hotel Group Ltd. said Wednesday that it was launching a share buyback program of up to 1.7 million pounds ($2.1 million), and that the declaration of a dividend remained subject to a continuation of its performance in the year to date.

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McBride Says Lender Waives June Covenant Tests to September

McBride PLC said Wednesday that its banking group has agreed to waive the June covenant tests until Sept. 30, and that it is performing in line with market expectations.

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Lookers Sees 1H Adj Pretax Profit Fall, Warns of Supply Restrictions

Lookers PLC said Wednesday that it expects to report a fall in underlying pretax profit for the first half of 2022, but that it is ahead of expectations, and warned of both new and used vehicle supply restrictions for the remainder of the year.

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Mulberry FY 2022 Pretax Profit Rose Materially Boosted by UK, China Sales -- Update

Mulberry Group PLC on Wednesday reported a significant rise in pretax profit for fiscal year 2022, and said that its performance for the first quarter of fiscal 2023 is ahead of the same period a year earlier.

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UK Government Minded to Clear Parker Hannifin Takeover of Meggitt -- Update

The U.K. government said late Tuesday that it is minded to accept Parker Hannifin Corp.'s undertakings to address its concerns over the U.S. company's planned 6.3 billion pound ($7.68 billion) takeover of Meggitt PLC.

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Union Jack Starts Capital Reduction Process to Enable Shareholder Returns

Union Jack Oil PLC said Wednesday that it is pursuing a reduction of capital exercise through the court procedure following approval by shareholders at the general meeting held on Tuesday.

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Moonpig FY 2022 Pretax Profit Rose; Backs FY 2023 Guidance

Moonpig Group PLC said Wednesday that pretax profit for fiscal 2022 rose in its first full-year performance after floating, and that it remains confident in its fiscal 2023 guidance.

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Trakm8 FY 2022 Pretax Loss Narrowed; Warns of Supply Issues

Trakm8 Holdings PLC said Wednesday that pretax loss narrowed in fiscal 2022, but that it has started the new financial year with continuing supply challenges and inflationary pressures.

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Safestay 1Q Revenue Ahead of Views; 2021 Underlying Profit Effected by Covid-19 Closures

Safestay PLC said Wednesday that revenue for the first quarter of 2022 was slightly ahead of management's expectations, and that its 2021 underlying profit before disposals will reflect the effect of pandemic-related closure periods.

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Windar Photonics Shares Dive on Expected 2021 Revenue Fall

Shares in Windar Photonics PLC fell 58% in early trade Wednesday after the company said that it expects to report a 50% fall in 2021 revenue due to project delays in China, and that these accounts will be delayed past the regulatory deadline.

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Oxford Cannabinoid Says 11-Month Performance Was as Expected

Oxford Cannabinoid Technologies Holdings PLC said Wednesday that it expects to report results in line with expectations for the eleven months ended April 30.

 
Market Talk: 

Lookers Gains After Strong 1H; Shares Look Cheap

0913 GMT - Lookers rises 5% to 78 pence after the U.K. car dealer said it expected annual underlying pretax profit to be ahead of its expectations after strong 1H trading. Liberum Capital says it is increasing its full-year adjusted pretax profit forecast by 29% to reflect the strength of 1H and a degree of caution on 2H, given the consumer environment, despite a strong new car order book. "Even as supply starts to improve and demand comes under pressure going into 2023, our analysis suggests a crash is unlikely," Liberum analysts say in a note, adding that the stock looks good value and reiterating their buy recommendation. Liberum also increases its target price to 122p from 110p. (philip.waller@wsj.com)

UK Draft 2023-28 Power Distribution Regulation Better Than Analysts Feared

0851 GMT - The energy regulator for Great Britain, Ofgem, has released its draft determinations for the 2023-28 regulatory cycle for power distribution companies. On first sight, the overall package is better than feared with an allowed cost of equity of 4.75% versus consensus expectation of 4.7%, Citi's utilities analyst Jenny Ping says in a note. As for total expenditure, the proposal is 22% lower than what utility SSE had requested and 19% lower for National Grid. This limits the companies' investment and spending and eventual costs for consumers. "While this draft set of regulations is not as bad as feared--given the focus on energy bills--it is at best in-line with market expectations and nothing to get excited about," she says. (jaime.llinares@wsj.com)

Draft Regulation Proposals on UK Power Distribution Profits Are Slightly Positive

0825 GMT - The draft determination released by the U.K.'s energy regulator Ofgem for power distribution networks' returns in 2023-2028 is a slight positive for the companies, John Musk at RBC Capital Markets says in a note. Total expenditure levels have been set 17% below business plan requests, but market expectations were around that level, he says. In addition, the return-on-equity allowance has been set at 4.75% compared with company requests of 5%-6% and market expectations of 4.6%. "Overall we regard the ED2 Draft Determination as slightly positive for U.K. electricity distribution companies given the higher than expected RoE [return on equity] and totex [total expenditure] levels that have not been drastically cut versus business plans," Musk says. (jaime.llinares@wsj.com)


Contact: London NewsPlus; paul.larkins@wsj.com


(END) Dow Jones Newswires

06-29-22 1258ET

Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC 0.11% 9944 Delayed Quote.14.59%
BELL FINANCIAL GROUP LIMITED 1.00% 1.01 Delayed Quote.-46.38%
CAPITA PLC 6.01% 25.04 Delayed Quote.-31.40%
DP AIRCRAFT I LIMITED 0.00% 0.045 Delayed Quote.200.00%
FTSE 100 0.18% 6893.81 Delayed Quote.-6.81%
K CAR CO., LTD. -8.97% 13700 End-of-day quote.-59.82%
LONDON BRENT OIL -3.84% 85.29 Delayed Quote.14.15%
LOOKERS PLC -0.15% 66 Delayed Quote.-0.75%
MCBRIDE PLC 1.07% 23.55 Delayed Quote.-60.75%
MEGGITT PLC 0.00% 798.8 Delayed Quote.8.24%
MOONPIG GROUP PLC 3.98% 159.5 Delayed Quote.-57.47%
MULBERRY GROUP PLC 0.00% 225 Delayed Quote.-29.69%
NATIONAL GRID PLC -0.68% 931 Delayed Quote.-12.15%
OCADO GROUP PLC 0.68% 472.5 Delayed Quote.-71.84%
OXFORD CANNABINOID TECHNOLOGIES HOLDINGS PLC 0.00% 0.675 Delayed Quote.-73.53%
PPHE HOTEL GROUP LIMITED -0.71% 1390 Delayed Quote.-2.93%
SAFESTAY PLC 0.00% 16 Delayed Quote.-17.95%
SHOE ZONE PLC 1.54% 165 Delayed Quote.50.00%
STANDARD CHARTERED PLC 1.80% 566.8 Delayed Quote.0.00%
THE BRITISH LAND COMPANY PLC 3.15% 350.7 Delayed Quote.-33.95%
TRAKM8 HOLDINGS PLC 0.00% 18 Delayed Quote.-20.00%
UNION JACK OIL PLC 0.00% 29.5 Delayed Quote.110.71%
WTI -2.49% 79.673 Delayed Quote.8.35%
All news about THE BRITISH LAND COMPANY PLC
09/28FTSE 100 Closes 0.3% Higher as Bank of England Steps in to Stabilize Bond Market, Pound
DJ
09/16JPMorgan Cuts British Land PT, Affirms Overweight Rating
MT
09/16Goldman Sachs Lowers British Land to Neutral from Buy, Cuts PT
MT
09/01Panmure Downgrades British Land to Hold from Buy, Cuts PT
MT
08/31THE BRITISH LAND COMPANY PLC : Monthly statement on voting ..
CO
08/18Fitch Affirms British Land's IDR at 'A-'/Stable; Senior Unsecured at 'A'
AQ
08/18Fitch Maintains British Land's Stable Outlook On Strong Prime Office Portfolio
MT
08/04British Land : expands its retail and leisure offering at Regent's Place
PU
08/04THE BRITISH LAND COMPANY PLC : Threshold crossings
CO
07/29THE BRITISH LAND COMPANY PLC : Monthly statement on voting ..
CO
More news
Analyst Recommendations on THE BRITISH LAND COMPANY PLC
More recommendations
Financials
Sales 2023 482 M 537 M 537 M
Net income 2023 602 M 671 M 671 M
Net Debt 2023 2 959 M 3 297 M 3 297 M
P/E ratio 2023 7,68x
Yield 2023 6,04%
Capitalization 3 251 M 3 623 M 3 623 M
EV / Sales 2023 12,9x
EV / Sales 2024 13,9x
Nbr of Employees 636
Free-Float 98,4%
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Technical analysis trends THE BRITISH LAND COMPANY PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 350,70 GBX
Average target price 502,41 GBX
Spread / Average Target 43,3%
EPS Revisions
Managers and Directors
Simon Carter Chief Executive Officer
Bhavesh Mistry Chief Financial Officer & Executive Director
Tim Score Chairman
Sally Jones Head-Strategy, Digital & Technology
David Walker Chief Operating Officer
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