British Land Company PLC (GB:BLND)
LSE:BLND
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Earnings Data
Report Date
Nov 18, 2026TBA (Confirmed)
Period Ending
2027 (Q2)Consensus EPS Forecast
0.15Last Year’s EPS
0.15Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple clear operational and financial strengths: record campus leasing, strong like‑for‑like rent growth (6%), successful accretive M&A (Life Science REIT), disciplined cost control (admin costs down 9% year-on-year), improved NTA (+4% to 590p) and a well‑funded balance sheet (LTV 39.2%, ~£1.6bn liquidity). Offsetting these positives are notable headwinds from higher finance costs (‑3.4p EPS impact), some one‑off volatility in provisions, development delivery timing issues (e.g., Canada Water) and softer pockets like Urban Logistics, plus capital market volatility. On balance the operational momentum and earnings visibility into FY '27 were presented as outweighing the challenges.Company Guidance
Strong Occupational Demand and Tight Supply
Net absorption at record highs; demand is 57% above the 10-year average and under-offers are 50% higher year-on-year. Vacancy is ~300 basis points lower than in 2022 in both core markets and city vacancy for new/refurbished space is forecast to fall below 2% for the next four years.
Record Leasing Performance at Campuses
Record 1.7 million sq ft of campus leasing in FY '26, 6% ahead of ERV and 20% ahead of previous passing rents; campus occupancy rose to 95% from 92%, with Norton Folgate 94% let and 295,000 sq ft under offer at year-end (17% ahead of ERV).
Material Campus Exposure to Science & Tech
Pro forma weighting to Science & Tech now ~35% of Campus footprint after Life Science REIT acquisition; active demand tracked ~2.5 million sq ft; multiple large AI/data occupiers signing (e.g., Anthropic 158,000 sq ft).
Life Science REIT Acquisition — Earnings Accretive and NTA Neutral
Acquisition immediately earnings accretive with no impact on NTA; adds scale in Science & Tech, expected cost synergies from corporate cost elimination and efficient onboarding, and contributes +0.3p to FY '27 EPS with further upside from lease-up (56,000 sq ft under offer at Oxford Technology Park).
Like-for-Like Net Rent Growth and Development Leasing Contribution
Like-for-like net rents grew 6% (adding 2.1p to EPS); Campus like-for-like growth was 12%; development leasing added 1.4p to EPS and recent completions are expected to deliver ~£40 million of rent in FY '27.
Cost Discipline and Admin Savings
Admin costs down 9% year-on-year and 16% since 2022 despite inflationary pressures, contributing positively to EPS (cost control added ~0.8p to EPS including fee income changes).
Retail Park Fundamentals & Performance
Retail Parks occupancy ~99%; delivered 4.4% rental growth last year; 1.5 million sq ft leased at 9% above ERV and deals now generally agreed above previous passing rent (example: leasing around 6% above previous passing rent reported). Footfall >13% above UK retail benchmark since 2019.
Portfolio Value and NTA Growth
Portfolio values increased 2.3% in FY '26 and NTA per share rose 4% to 590p, delivering an 8.1% total accounting return within the stated 8%–10% target range.
Robust Balance Sheet and Liquidity
Completed >£3 billion of financing activity in the year; LTV 39.2%; net debt-to-EBITDA 7.7x; Fitch rating A (stable); ~£1.6 billion liquidity with no refinancing required until 2029.
Confident FY '27 Earnings Guidance
Management expects like‑for‑like growth at the top end of the 3%–5% range and guides FY '27 EPS of at least 30.5p (implying ~6% EPS growth). Medium-term core organic EPS growth target ~4% pa plus potential ~2% from capital activity (3%–6% overall).
Successful Asset Management Case Studies
Examples include Regent's Place repositioning (1 Triton Square 94% let, rents ~40% ahead of previous Meta rent), Orbital Retail Park delivering a 21% IRR since acquisition, and Telford projects targeting ~11% combined returns.
GB:BLND Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
GB:BLND Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 20, 2026 | 378.20 p | 387.20 p | +2.38% |
Nov 19, 2025 | 367.50 p | 364.79 p | -0.74% |
May 22, 2025 | 388.81 p | 367.65 p | -5.44% |
Nov 20, 2024 | 351.85 p | 346.91 p | -1.40% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does British Land Company PLC (GB:BLND) report earnings?
British Land Company PLC (GB:BLND) is schdueled to report earning on Nov 18, 2026, TBA (Confirmed).
What is British Land Company PLC (GB:BLND) earnings time?
British Land Company PLC (GB:BLND) earnings time is at Nov 18, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of British Land Company PLC stock?
The P/E ratio of British Land Company plc is N/A.
What is GB:BLND EPS forecast?
GB:BLND EPS forecast for the fiscal quarter 2027 (Q2) is 0.15.