- London West End real estate investor Shaftesbury said it wouldn't declare an interim dividend, while warning its annual earnings were expected to be significantly below market expectations.

Shaftesbury said it was not yet possible to quantify the impact of Covid-19 on its earnings for the year through September 2020.

It had been supporting commercial occupiers with solutions, including rent deferral, to help to ease their short-term cash flow issues.

The company said it 'well-financed balance sheet' with a 24% loan-to-valuation ratio, no debt maturities until May 2022, diversified sources of finance and a weighted average debt maturity of 8.8 years.

'The global appeal and resilience of the West End and our locations, together with our initiatives in recent years to ensure our finances are robust, underpin the intrinsic worth of our impossible-to-replicate portfolio and the long-term value of our business,' chief executive Brian Bickell said.

At 2:11pm: [LON:SHB] Shaftesbury PLC share price was +24p at 624.5p

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