Land Securities is expected to post solid final results on Wednesday.
Analysts forecasts for diluted net asset value range from 1128p to 1188p per share, relatively stable, against 1154p at end-March 2001.
Pretax profits are expected to rise roughly 12-15% to £355m-£360m.
UBS Warburg has not changed the forecast it made at the start of the year for diluted NAV at 1128p per share.
“It wouldnt surprise me if were too low, but youd need to see a pretty bad number for the market to be dispirited by it.
“The mood on property at the moment is pretty positive,” said Warburg analyst Quentin Freeman.
Merrill Lynch said the key question was whether positive money flows in property investment markets had fed through to valuations, especially for retail. It has boosted its NAV forecast to 1188p.
Andrew Penny at JP Morgan, who sees diluted NAV virtually unchanged at 1159p a share, said he would like news of capital restructuring to address LandSecs undergeared balance sheet.
Boardroom changes have hit the company, but the market has high hopes for recent appointees.
EGi News 17/05/02
