25th Feb 2026 09:45
(Alliance News) - Shaftesbury Capital PLC on Wednesday posted annual profit growth, with demand currents buoying the company through 2025.
The real estate investment trust targets commercial properties in London's West End.
Its pretax profit jumped to GBP387.1 million in 2025 from GBP252.4 million the year prior, when profit had plunged 66% from GBP750.6 million in 2023. The latter's standout result reflected a GBP805.5 million gain on a bargain purchase.
Returning to 2025, attributable profit was up 35% on-year to GBP340.2 million from GBP252.1 million. Diluted earnings per share attributable to owners of the parent company ticked up to 18.5 pence from 13.8p in 2024. Revenue totalled GBP238.9 million, up from GBP227.1 million in 2024.
Shaftesbury's finance costs eased over the course of the year to GBP52.0 million from GBP60.1 million, though administration expenses edged up to GBP50.2 million from GBP42.7 million. The company booked a GBP321.8 million gain on revaluation and sale of investment property, up from GBP194.6 million in 2024. It also took in GBP3.0 million of other income, compared to none the year prior.
The carrying value of investment property was GBP5.34 billion at December 31, up from GBP4.90 billion at the end of 2024.
On an EPRA basis, Shaftesbury's net tangible assets totalled GBP3.95 billion, up from GBP3.67 billion on-year. NTA per share rose 7.2% to 214.7 pence from 200p, while total equity attributable to owners of the parent increased to GBP3.95 billion, as at December 31, from GBP3.67 billion the year prior.
The company proposed to lift its final dividend to 2.1p per share from 1.8p, which would bring the total dividend up to 4.0p from 3.5p.
Shaftesbury shares traded 3.5% higher at 152.30 pence on Wednesday morning in London. The stock was up 2.8% to ZAR3,289.00 in Johannesburg.
Chief Executive Ian Hawksworth called 2025 "another excellent year".
"Our West End estates continue to perform, with vibrant destinations supported by high occupancy, footfall and customer sales. Leasing demand remains strong, with 434 transactions completed during the year at 10% ahead of December 2024 [estimated rental value]. Portfolio valuations increased by 6.6% and we enter 2026 with a strong leasing pipeline across our destinations."
Hawksworth added: "We are well-positioned to pursue accretive opportunities and grow assets under management."
By Holly Munks, Alliance News reporter
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