May 15, 2018 / 6:34 AM / 2 years ago

Land Securities' FY NAV dips on refinancing costs, names new chairwoman

May 15 (Reuters) - Land Securities, Britain’s largest listed property developer, posted a slight fall in full-year adjusted net asset value per share on Tuesday, hurt by the cost of refinancing bonds, and said it named Cressida Hogg as new chairwoman.

The developer reported a 1 percent fall in adjusted diluted net asset value - a measure of a developer’s buildings - to 1,403 pence for the year to March 31.

“The cost of refinancing 1.5 billion pounds ($2.03 billion)of bonds is behind both the loss for the year of 251 million pounds and the slight fall in adjusted diluted net asset value per share to 1,403p,” the company said.

Separately, the company said it appointed Cressida Hogg as its non-executive chairwoman, succeeding Dame Alison Carnwath, who will retire on July 12. ($1 = 0.7383 pounds) (Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Gopakumar Warrier)

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