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Land Securities Profit Climbs as Property Vacancies Drop
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Land Securities Group Plc, the U.K.’s largest real estate investment trust, said full-year profit increased as the company secured tenants for empty properties. The shares rose the most in 16 months.
Net income rose to 533 million pounds ($810 million), or 68.1 pence a share, from 522.9 million pounds, or 67.4 pence, a year earlier, the London-based company said in a statement today. Adjusted net asset value climbed to 903 pence a share from 863 pence last year.