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Report of the month

May 2007
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Land Securities

London, United Kingdom



Report Facts

Company name: Land Securities Group PLC
Fiscal year end: March 31, 2006
Report title: -
Chairman: Peter Birch
Group Chief Executive: Francis Salway
Number of books (Received): 1
Volume: 160 pages
Auditors: PricewaterhouseCoopers LLP
Designers: SAS and BOB Design
E-mail: investor.relations@landsecurities.com

Report Rating

4/5

(Rating scale below)

Profile-Mission (Excerpts, as from the report)

Remaining the number one property company in the UK means thinking creatively, spotting new opportunities and keeping an open mind. (p 16)
Six years ago we set out a new strategic direction and embarked upon a series of business initiatives aimed at the transformation of the Group. The ambition was to create a modern, dynamic property business with a strategic focus on the customer and on income as well as asset value growth. We have also invested in our property outsourcing business… creating the market-leading property solutions provider.
(Chairman’s Statement, p 22)

Group revenue: £ 1,828.7 million
Gross property income: £ 1,988.2 million
Net profit after tax: £ 1,537.4 million
Earnings per share: 357.95p (+ 57.5%)
Return on equity: 26.4%
Gearing: 49.2%

(Source: annual report 2006 only – figures not found through a report scan are considered NA. All figures for fiscal year 2006)
 

Strongest

  • A brilliant feat of design from front to back covers, with a little help from six hundred children from 14 towns across Britain (sent) into their local surroundings to draw… And an almost perfect example of designing not just for the sake of it but for conveying a strong message, weaving the business story, and making a convincing case for readers, analysts and investors. Besides its worthwhile summary purpose, the Selected Page (see below) also shows how design can be used effectively to decode numbers.
  • Drawings, as well as full-page photos, maps and diagrams, animate most of the hefty (°) book.
  • Business Analysis of major properties rich in facts and figures, and including development pipelines and like-for-like portfolio analysis.
 

Good Too

  • Operating and financial review backed with tables and charts, with a good analysis of the funding structure, cash flows and debt profile.
  • Detailed remuneration report.
  • Comprehensive Glossary and practical Index.
 

Buts

  • Talking the walk? When it comes to recycling we don’t just stop at paper, depicts p 31. The caption: New Street Square, London. We recycled 93% of the waste that was created when we demolished the original building and gave 180 tonnes of carpet tiles to social projects. Other indicators and facts may be found, too.
 

Green?

  • Talking the walk? When it comes to recycling we don’t just stop at paper, depicts p 31. The caption: New Street Square, London. We recycled 93% of the waste that was created when we demolished the original building and gave 180 tonnes of carpet tiles to social projects. Other indicators and facts may be found, too.
 

How does the company report in key areas? What are the main report pluses and minuses? The Report Scan gives an overview of strengths and weaknesses, and scores each item.
Contact e.com@reportwatch.net

 

Selected Page

(p 37 of LAND SECURITIES Annual Report 2006)
p 37 of LAND SECURITIES Annual Report 2006
Rating Scale
5
World-Class
4.5
First-Rate
4
Excellent
3.5
Fine
3
Average
2.5
Uneven
2
Ordinary
1.5
Deficient
1
Unsatisfactory
0.5
Uncompetitive
The rating is based on ReportWatch internal desk research and does not take into account the independent Rating Panel’s judgment.