Land Securities Group plc said that under International Financial Reporting Standards (IFRS) its results for the year to 31 March 2005 show a net profit of £1.12bn, compared with a previously stated loss of £35.8m under UK GAAP.
Pretax profit under IFRS would be £1.33bn, up from a loss of £155.8m.
The group also said its net asset value under IFRS would be £6.08bn, down from £6.64bn under UK GAAP.
Source: Freeman News
