Capital & Regional has confirmed that Hugh Scott-Barrett will take over from Martin Barber as chief executive from April.
The confirmation came on the day the retail property asset manager reported a £167m full-year pretax loss, down from a profit of £251m the previous year.
Adjusted NAV per share fell 21% to £10.08. The property portfolio lost 10% of its value. It predicted property values would recover in the second half of the year.
The results were mostly better than analysts’ forecasts and the shares closed up 45.5p at 553p. An analyst at Kaupthing, said the market needed clarification as to whether the whole business was up for sale, restructuring, or whether the management would stick with it.
12/03/08 Financial Times 22, 23
Times 50
Daily Telegraph B6, B7
Independent 52
