LondonMetric Property Plc (LNSPF) This autumn 2026 Earnings Call Transcript

Unknown Attendee

Andrew, you’ve delivered strong growth in your net rental income in the year. What have been the key drivers for this growth? And how has the business been performing more widely?

Andrew Jones
CEO & Executive Director

Yes. So we’ve announced a record rental income for the period of GBP 455 million. It’s an increase of 17% on this time last year. And the big driver of that has been the acquisition strategy that we executed. We took over 2 public companies in the period, Urban Logistics REIT and Highcroft properties. So that’s helped propel our rents to record levels. And then that’s flown through into an EPRA earnings of over GBP 305 million. That’s an increase of 14%. And that has also then flowed through into an increased dividend. We’ve paid a dividend for the period of 12.45p per share, an increase of 3.8%, and that represents the 11th consecutive year of dividend progression. And we think that the activity, the strength of the portfolio will allow us to propel those numbers even further in the coming year.

Unknown Attendee

With your increased scale, can you talk to us about how this is benefiting LondonMetric for the future?

Andrew Jones
CEO & Executive Director

Look, we live in pretty uncertain times. We have volatile financial markets. Without a doubt, scale equals liquidity. And we’re using that scale for a number of advantages. We’re certainly leveraging it to