LAND Securities reported an 18% rise in its net asset value yesterday and an increase in pre-tax profits to #266m for the year to the end of March.
But the group's shares fell 6p to 1016p, having earlier hit 1030p, on news of the nav of 924p at the end of March, up from 783p the previous year.
Land Securities' managing director Ian Henderson said it was big enough not to merge with another group and was not interested in acquiring other firms.
He said the group was embarking on a #650m development programme following completion of an earlier scheme.
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