Shaftesbury delivers ‘resilient’ performance despite “slowing national economy”
London-based property specialist Shaftesbury has ‘delivered a resilient performance’ according to its full year results.
The real estate investment trust, which owns a 5.2 acre portfolio in London’s West End has reported a net property income increase of 4.5 per cent compared with 2018.
Despite a decrease of profit after tax, which the firm attributes to revaluation deficits, its dividend has increased by 5.9 per cent on the previous year.
Brian Bickell, Shaftesbury chief executive, commented: “In a year dominated by domestic political uncertainties and a slowing national economy, the qualities of our portfolio, business model and proven strategy, together, have delivered a resilient performance.
“Our skill in curating distinctive, prosperous destinations, which combine authentic experiences and innovative choices, is complemented by our long experience in continually adapting our buildings to meet trends in demand, occupier requirements and stringent environmental standards.
“Our proven strategy, an impossible-to-replicate resilient portfolio, stable long-term financing and, most importantly, an experienced, enthusiastic and entrepreneurial team, guided by a responsible culture and embedded values, together provide the ingredients for the continued long-term success of this business.”
Access free online guidance for North East businesses in the Growth Hub North East's COVID-19 toolkit →