Real estate firm British Land reports $1.36 bln loss as retail portfolio value slumps

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May 27 (Reuters) – Real estate firm British Land Co Plc racked up a 1.1 billion pound ($1.36 billion) loss last year, thanks to a 26% slump in the value of its retail portfolio, the company said on Wednesday, as it battles the fallout of the coronavirus crisis.

The company, which owns a range of office-led London campuses and retail spaces, said loss after tax widened to 1.11 billion pounds for the full year ended March 31, compared to 320 million pounds a year ago, whereas net asset value (NAV) declined 14.5% to 774 pence. ($1 = 0.8112 pounds) (Reporting by Samantha Machado in Bengaluru; editing by Rashmi Aich)

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