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 £387.1 million in 2025 from £252.4 million the year prior, when profit had plunged 66% from £750.6 million in 2023. The latter’s standout result reflected a £805.5 million gain on a bargain purchase.
Returning to 2025, attributable profit was up 35% on-year to £340.2 million from £252.1 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 £238.9 million, up from £227.1 million in 2024.
Shaftesbury’s finance costs eased over the course of the year to £52.0 million from £60.1 million, though administration expenses edged up to £50.2 million from £42.7 million. The company booked a £321.8 million gain on revaluation and sale of investment property, up from £194.6 million in 2024. It also took in £3.0 million of other income, compared to none the year prior.
The carrying value of investment property was £5.34 billion at December 31, up from £4.90 billion at the end of 2024.
On an EPRA basis, Shaftesbury’s net tangible assets totalled £3.95 billion, up from £3.67 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 £3.95 billion, as at December 31, from £3.67 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 R 3,289.00 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.’
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