British Land subsidiary BLD Property Holdings posts a pre-tax loss of £11.5m for the six months to the end of September compared with a profit of £12.9m a year ago.
BLD booked a loss of £14.7m following a revaluation of investment property against a profit of £8.5m last time.
Revenues rose to £7.0m from £6.9m but operating profits of £4.7m were down from £5.9m.
The value of investment properties held as at 30 September 2016 decreased by £13.2m. This is due to £1.7m of additions, revaluation losses of £14.7m and £0.2m of other movements
At 8:35am: (LON:09GE) share price was 0p at 125p