British Land Company PLC
LSE:BLND
Income Statement
Earnings Waterfall
British Land Company PLC
Income Statement
British Land Company PLC
| Mar-2002 | Sep-2002 | Mar-2003 | Sep-2003 | Mar-2004 | Sep-2004 | Mar-2005 | Sep-2005 | Dec-2005 | Mar-2006 | Jun-2006 | Sep-2006 | Dec-2006 | Mar-2007 | Jun-2007 | Sep-2007 | Dec-2007 | Mar-2008 | Jun-2008 | Sep-2008 | Dec-2008 | Mar-2009 | Jun-2009 | Sep-2009 | Dec-2009 | Mar-2010 | Sep-2010 | Dec-2010 | Mar-2011 | Sep-2011 | Dec-2011 | Mar-2012 | Sep-2012 | Mar-2013 | Sep-2013 | Mar-2014 | Sep-2014 | Mar-2015 | Sep-2015 | Mar-2016 | Sep-2016 | Mar-2017 | Sep-2017 | Mar-2018 | Sep-2018 | Mar-2019 | Sep-2019 | Mar-2020 | Sep-2020 | Mar-2021 | Sep-2021 | Mar-2022 | Sep-2022 | Mar-2023 | Sep-2023 | Mar-2024 | Sep-2024 | Mar-2025 | Sep-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
282
|
0
|
289
|
151
|
316
|
329
|
354
|
415
|
0
|
419
|
0
|
0
|
0
|
328
|
0
|
0
|
0
|
315
|
0
|
0
|
0
|
229
|
0
|
0
|
0
|
150
|
0
|
0
|
94
|
0
|
0
|
101
|
0
|
101
|
0
|
90
|
0
|
112
|
0
|
111
|
0
|
103
|
0
|
93
|
33
|
96
|
111
|
97
|
97
|
93
|
88
|
84
|
87
|
90
|
100
|
107
|
99
|
112
|
0
|
|
| Revenue |
432
N/A
|
399
-7%
|
452
+13%
|
428
-5%
|
535
+25%
|
519
-3%
|
604
+16%
|
631
+4%
|
778
+23%
|
690
-11%
|
826
+20%
|
659
-20%
|
660
+0%
|
649
-2%
|
585
-10%
|
613
+5%
|
625
+2%
|
645
+3%
|
631
-2%
|
602
-5%
|
579
-4%
|
554
-4%
|
528
-5%
|
511
-3%
|
461
-10%
|
394
-15%
|
296
-25%
|
288
-3%
|
298
+3%
|
318
+7%
|
324
+2%
|
332
+2%
|
335
+1%
|
329
-2%
|
343
+4%
|
384
+12%
|
437
+14%
|
515
+18%
|
591
+15%
|
590
0%
|
596
+1%
|
589
-1%
|
624
+6%
|
639
+2%
|
806
+26%
|
904
+12%
|
733
-19%
|
613
-16%
|
540
-12%
|
468
-13%
|
404
-14%
|
412
+2%
|
436
+6%
|
418
-4%
|
589
+41%
|
575
-2%
|
405
-30%
|
454
+12%
|
498
+10%
|
|
| Gross Profit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(38)
|
0
|
(32)
|
0
|
(79)
|
0
|
(87)
|
0
|
0
|
(101)
|
0
|
0
|
0
|
(86)
|
(19)
|
(44)
|
(61)
|
(81)
|
(84)
|
(75)
|
(77)
|
(97)
|
(101)
|
(98)
|
(95)
|
(51)
|
(45)
|
(43)
|
(39)
|
(46)
|
(44)
|
(42)
|
(46)
|
(43)
|
(56)
|
(71)
|
(87)
|
(100)
|
(129)
|
(139)
|
(151)
|
(148)
|
(185)
|
(200)
|
(317)
|
(399)
|
(296)
|
(198)
|
(141)
|
(120)
|
(124)
|
(135)
|
(117)
|
(106)
|
(110)
|
(106)
|
(110)
|
(125)
|
(135)
|
|
| Gross Profit |
393
N/A
|
0
N/A
|
419
N/A
|
0
N/A
|
456
N/A
|
0
N/A
|
517
N/A
|
0
N/A
|
0
N/A
|
589
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
563
N/A
|
141
-75%
|
282
+100%
|
425
+51%
|
564
+33%
|
547
-3%
|
527
-4%
|
502
-5%
|
457
-9%
|
427
-7%
|
413
-3%
|
366
-11%
|
343
-6%
|
251
-27%
|
245
-2%
|
259
+6%
|
272
+5%
|
280
+3%
|
290
+4%
|
289
0%
|
286
-1%
|
287
+0%
|
313
+9%
|
350
+12%
|
415
+19%
|
462
+11%
|
451
-2%
|
445
-1%
|
441
-1%
|
439
0%
|
439
N/A
|
489
+11%
|
505
+3%
|
437
-13%
|
415
-5%
|
399
-4%
|
348
-13%
|
280
-20%
|
277
-1%
|
319
+15%
|
312
-2%
|
479
+54%
|
469
-2%
|
295
-37%
|
329
+12%
|
363
+10%
|
|
| Operating Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(30)
|
(38)
|
(37)
|
(39)
|
(35)
|
(6)
|
(41)
|
(139)
|
(135)
|
(41)
|
(383)
|
(369)
|
(159)
|
(76)
|
(100)
|
(96)
|
24
|
(61)
|
(115)
|
(117)
|
(120)
|
(51)
|
(49)
|
(49)
|
(49)
|
(63)
|
(56)
|
(55)
|
(60)
|
(54)
|
(54)
|
(57)
|
(53)
|
(62)
|
(64)
|
(72)
|
(75)
|
(85)
|
(95)
|
(93)
|
(88)
|
(84)
|
(82)
|
(82)
|
(83)
|
(80)
|
(80)
|
(93)
|
(128)
|
(134)
|
(103)
|
(86)
|
(81)
|
(79)
|
(124)
|
(125)
|
(80)
|
(80)
|
(77)
|
|
| Selling, General & Administrative |
(39)
|
(42)
|
(41)
|
(43)
|
(41)
|
(42)
|
(49)
|
(63)
|
(81)
|
(81)
|
(102)
|
(87)
|
(102)
|
(91)
|
(90)
|
(87)
|
(70)
|
(67)
|
(123)
|
(120)
|
(119)
|
(51)
|
(52)
|
(50)
|
(47)
|
(55)
|
(54)
|
(57)
|
(61)
|
(68)
|
(70)
|
(69)
|
(71)
|
(72)
|
(71)
|
(72)
|
(75)
|
(85)
|
(95)
|
(93)
|
(88)
|
(84)
|
(82)
|
(82)
|
(83)
|
(80)
|
(80)
|
(93)
|
(128)
|
(134)
|
(103)
|
(86)
|
(81)
|
(79)
|
(124)
|
(125)
|
(80)
|
(80)
|
(77)
|
|
| Depreciation & Amortization |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(3)
|
(6)
|
(10)
|
(20)
|
(21)
|
(21)
|
(15)
|
(15)
|
(12)
|
(12)
|
(15)
|
(15)
|
(17)
|
(18)
|
(14)
|
(14)
|
(14)
|
(14)
|
(15)
|
(16)
|
(14)
|
(10)
|
(2)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Other Operating Expenses |
10
|
4
|
4
|
4
|
6
|
36
|
8
|
(73)
|
(48)
|
50
|
(261)
|
(261)
|
(36)
|
30
|
5
|
3
|
106
|
21
|
23
|
20
|
17
|
14
|
17
|
15
|
12
|
7
|
14
|
16
|
11
|
16
|
16
|
12
|
16
|
10
|
7
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Operating Income |
364
N/A
|
361
-1%
|
382
+6%
|
388
+2%
|
422
+9%
|
513
+22%
|
476
-7%
|
492
+3%
|
643
+31%
|
548
-15%
|
443
-19%
|
290
-35%
|
501
+73%
|
487
-3%
|
466
-4%
|
473
+2%
|
588
+24%
|
503
-14%
|
432
-14%
|
410
-5%
|
382
-7%
|
406
+6%
|
378
-7%
|
364
-4%
|
317
-13%
|
280
-12%
|
195
-30%
|
190
-3%
|
199
+5%
|
218
+10%
|
226
+4%
|
233
+3%
|
236
+1%
|
224
-5%
|
223
0%
|
241
+8%
|
275
+14%
|
330
+20%
|
367
+11%
|
358
-2%
|
357
0%
|
357
N/A
|
357
N/A
|
357
N/A
|
406
+14%
|
425
+5%
|
357
-16%
|
322
-10%
|
271
-16%
|
214
-21%
|
177
-17%
|
191
+8%
|
238
+25%
|
233
-2%
|
355
+52%
|
344
-3%
|
215
-38%
|
249
+16%
|
286
+15%
|
|
| Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(235)
|
(234)
|
(242)
|
(245)
|
(282)
|
46
|
425
|
633
|
1 082
|
1 147
|
1 587
|
1 187
|
1 029
|
1 266
|
631
|
151
|
(1 593)
|
(2 136)
|
(2 908)
|
(3 318)
|
(3 552)
|
(4 043)
|
(3 866)
|
(2 947)
|
(684)
|
861
|
1 386
|
1 008
|
604
|
605
|
411
|
236
|
14
|
21
|
336
|
854
|
1 419
|
1 478
|
1 228
|
973
|
(54)
|
(162)
|
281
|
144
|
(185)
|
(744)
|
(1 074)
|
(1 438)
|
(1 704)
|
(1 267)
|
(100)
|
772
|
331
|
(1 267)
|
(1 417)
|
(328)
|
(42)
|
93
|
168
|
|
| Non-Reccuring Items |
0
|
1
|
0
|
7
|
0
|
0
|
0
|
0
|
0
|
(240)
|
0
|
0
|
(346)
|
(106)
|
0
|
0
|
0
|
(6)
|
0
|
0
|
0
|
(119)
|
0
|
0
|
(9)
|
0
|
(1)
|
9
|
0
|
(1)
|
(2)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Gain/Loss on Disposition of Assets |
37
|
29
|
26
|
39
|
33
|
19
|
17
|
49
|
66
|
165
|
164
|
144
|
201
|
115
|
109
|
111
|
33
|
26
|
(32)
|
(54)
|
(80)
|
(177)
|
(143)
|
(131)
|
(113)
|
(18)
|
(11)
|
14
|
20
|
11
|
2
|
3
|
7
|
8
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Total Other Income |
6
|
0
|
8
|
6
|
13
|
7
|
(180)
|
(180)
|
(180)
|
(122)
|
(122)
|
(122)
|
(122)
|
(322)
|
0
|
0
|
0
|
4
|
0
|
0
|
0
|
5
|
0
|
0
|
0
|
5
|
0
|
0
|
7
|
0
|
0
|
7
|
0
|
7
|
14
|
15
|
37
|
(19)
|
(26)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
0
|
0
|
(1)
|
0
|
0
|
(2)
|
|
| Pre-Tax Income |
171
N/A
|
157
-9%
|
174
+11%
|
194
+11%
|
186
-4%
|
586
+215%
|
738
+26%
|
994
+35%
|
1 611
+62%
|
1 498
-7%
|
2 072
+38%
|
1 499
-28%
|
1 263
-16%
|
1 440
+14%
|
1 206
-16%
|
735
-39%
|
(972)
N/A
|
(1 609)
-66%
|
(2 508)
-56%
|
(2 962)
-18%
|
(3 250)
-10%
|
(3 928)
-21%
|
(3 631)
+8%
|
(2 714)
+25%
|
(489)
+82%
|
1 128
N/A
|
1 569
+39%
|
1 221
-22%
|
830
-32%
|
833
+0%
|
637
-24%
|
479
-25%
|
257
-46%
|
260
+1%
|
573
+120%
|
1 110
+94%
|
1 731
+56%
|
1 789
+3%
|
1 569
-12%
|
1 331
-15%
|
303
-77%
|
195
-36%
|
638
+227%
|
501
-21%
|
221
-56%
|
(319)
N/A
|
(717)
-125%
|
(1 116)
-56%
|
(1 433)
-28%
|
(1 053)
+27%
|
77
N/A
|
963
+1 151%
|
568
-41%
|
(1 034)
N/A
|
(1 061)
-3%
|
15
N/A
|
172
+1 047%
|
342
+99%
|
452
+32%
|
|
| Net Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(12)
|
(8)
|
(34)
|
(32)
|
(15)
|
(77)
|
(84)
|
(151)
|
(260)
|
(314)
|
(421)
|
(287)
|
930
|
1 013
|
1 107
|
1 138
|
38
|
46
|
44
|
28
|
47
|
47
|
42
|
33
|
18
|
12
|
22
|
8
|
10
|
0
|
3
|
1
|
3
|
24
|
26
|
6
|
(1)
|
(24)
|
(15)
|
33
|
27
|
1
|
7
|
6
|
(20)
|
(1)
|
17
|
2
|
(3)
|
(30)
|
(26)
|
2
|
(8)
|
(5)
|
(5)
|
(14)
|
(1)
|
(4)
|
(5)
|
|
| Income from Continuing Operations |
159
|
149
|
141
|
162
|
172
|
509
|
654
|
843
|
1 351
|
1 184
|
1 651
|
1 212
|
2 193
|
2 453
|
2 313
|
1 873
|
(934)
|
(1 563)
|
(2 464)
|
(2 934)
|
(3 203)
|
(3 881)
|
(3 589)
|
(2 681)
|
(471)
|
1 140
|
1 591
|
1 229
|
840
|
833
|
640
|
480
|
260
|
284
|
599
|
1 116
|
1 730
|
1 765
|
1 554
|
1 364
|
330
|
196
|
645
|
507
|
201
|
(320)
|
(700)
|
(1 114)
|
(1 436)
|
(1 083)
|
51
|
965
|
560
|
(1 039)
|
(1 066)
|
1
|
171
|
338
|
447
|
|
| Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(10)
|
(53)
|
(55)
|
(26)
|
(19)
|
4
|
(3)
|
(18)
|
(14)
|
5
|
29
|
53
|
87
|
83
|
52
|
18
|
(2)
|
(1)
|
1
|
1
|
(2)
|
(2)
|
0
|
0
|
|
| Net Income (Common) |
159
N/A
|
149
-7%
|
141
-5%
|
162
+15%
|
172
+6%
|
509
+197%
|
654
+28%
|
843
+29%
|
1 351
+60%
|
1 184
-12%
|
1 651
+39%
|
1 212
-27%
|
2 193
+81%
|
2 453
+12%
|
2 313
-6%
|
1 873
-19%
|
(934)
N/A
|
(1 563)
-67%
|
(2 464)
-58%
|
(2 934)
-19%
|
(3 203)
-9%
|
(3 881)
-21%
|
(3 589)
+8%
|
(2 681)
+25%
|
(471)
+82%
|
1 140
N/A
|
1 591
+40%
|
1 229
-23%
|
840
-32%
|
833
-1%
|
640
-23%
|
480
-25%
|
260
-46%
|
284
+9%
|
599
+111%
|
1 106
+85%
|
1 677
+52%
|
1 710
+2%
|
1 528
-11%
|
1 345
-12%
|
334
-75%
|
193
-42%
|
627
+225%
|
493
-21%
|
206
-58%
|
(291)
N/A
|
(647)
-122%
|
(1 027)
-59%
|
(1 353)
-32%
|
(1 031)
+24%
|
69
N/A
|
963
+1 296%
|
559
-42%
|
(1 038)
N/A
|
(1 065)
-3%
|
(1)
+100%
|
169
N/A
|
338
+100%
|
447
+32%
|
|
| EPS (Diluted) |
0.22
N/A
|
0.22
N/A
|
0.22
N/A
|
0.27
+23%
|
0.29
+7%
|
0.82
+183%
|
1.03
+26%
|
1.33
+29%
|
2.14
+61%
|
1.88
-12%
|
2.63
+40%
|
1.93
-27%
|
3.48
+80%
|
3.89
+12%
|
3.67
-6%
|
3
-18%
|
-1.51
N/A
|
-2.53
-68%
|
-4.01
-58%
|
-4.76
-19%
|
-5.22
-10%
|
-6.16
-18%
|
-4.22
+31%
|
-3.12
+26%
|
-0.54
+83%
|
1.33
N/A
|
1.82
+37%
|
1.39
-24%
|
0.95
-32%
|
0.93
-2%
|
0.72
-23%
|
0.54
-25%
|
0.3
-44%
|
0.32
+7%
|
0.62
+94%
|
1.1
+77%
|
1.55
+41%
|
1.67
+8%
|
1.4
-16%
|
1.24
-11%
|
0.32
-74%
|
0.18
-44%
|
0.6
+233%
|
0.49
-18%
|
0.2
-59%
|
-0.3
N/A
|
-0.68
-127%
|
-1.1
-62%
|
-1.46
-33%
|
-1.11
+24%
|
0.08
N/A
|
1.04
+1 200%
|
0.6
-42%
|
-1.12
N/A
|
-1.15
-3%
|
0
N/A
|
0.18
N/A
|
0.35
+94%
|
0.45
+29%
|
|