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UK's Land Securities posts first-half loss, hurt by store closures

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(Reuters) – Property developer Land Securities Group <LAND.L> on Tuesday reported a first-half pretax loss, hit by more retail store closures.

The company, which manages the Bluewater shopping centre in southeast England, recorded a loss of 147 million pounds ($188.10 million) for six-month period ended Sept. 30, compared with a profit of 42 million pounds, a year earlier.

“With a general election next month and the UK’s proposed exit from the EU further delayed, we remain alert to market risks. However, Landsec enters the next six months with confidence”, Chief Executive Officer Robert Noel said.

(Reporting by Samantha Machado and Pushkala Aripaka in Bengaluru; Editing by Bernard Orr)

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