May 16, 2023 / 08:00AM GMT
Mark Christopher Allan - Land Securities Group Plc - CEO & Executive Director
Well, Good morning, everyone, and welcome to the presentation of Landsec's 2023 Full Year Results. Now when we launched our strategy back in late 2020, it was based on 2 clear and simple principles: to focus our resources, where we have genuine competitive advantage and to maintain a strong balance sheet. And since then, we've done exactly that. And as a result, we are in excellent shape, even though global economic and financial market conditions have deteriorated materially over the past year. Inflation and interest rates are up sharply and credit conditions have tightened, which has put pressure on values across every asset class, including property.
Now on our half year results 6 months ago, we said we expected this pressure to continue, which it has. And whilst the political situation has stabilized somewhat since then, interest rates remain volatile, making it difficult to predict, where they will eventually settle, although we think it is unlikely that this will be back at the level seen for much of the past
Full Year 2023 Land Securities Group PLC Earnings Call Transcript
May 16, 2023
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