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Londonmetric Property (LMP) investor relations material
Londonmetric Property H2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Portfolio value increased 23% year-over-year to £7.6bn, driven by acquisitions and growth in logistics, leisure, convenience, and healthcare sectors.
Net rental income rose 17% to £455m, with high occupancy at 98% and embedded rent growth.
Dividend per share increased 3.8% to 12.45p, marking 11 consecutive years of growth.
EPRA earnings rose 14% to £305.3m, supported by record net rental income.
Disciplined capital allocation and sector-leading EPRA cost ratio of 7.7%.
Financial highlights
Net rental income reached £455.3m, up 16.6% year-over-year.
EPRA earnings per share increased to £0.1345, up 2.4% year-over-year.
IFRS profits were £295.7m after exceptional costs of £42.8m.
Portfolio value rose to £7.6bn, including £1.23bn from acquisitions.
Total property return was 7.1%; total accounting return 6.9% (7.7% excluding non-recurring items).
Outlook and guidance
Expect to add £38.3m of short-term reversion by 2028 and £11m from letting vacant assets, targeting rent roll above £480m.
Announced intention to increase Q1 2027 dividend by 3–3.3% over Q1 2026.
Confident in continued dividend growth, supported by strong earnings visibility and resilient, structurally supported sectors.
- Rental income up 16% year-over-year, occupancy at 98%, and dividend growth continues.LMP
H2 2026 TU16 Apr 2026 - £7.4bn portfolio, 98% occupancy, and 11 years of dividend growth driven by logistics focus.LMP
Investor presentation16 Mar 2026 - Portfolio doubled to £6bn via M&A, driving strong income growth and progressive dividends.LMP
H2 202426 Feb 2026 - Record earnings and dividend growth driven by M&A, logistics focus, and cost efficiencies.LMP
H1 202512 Jan 2026 - Net rental income up 15%, portfolio at £7.4bn, logistics 54%, and dividend up 7%.LMP
H1 202620 Nov 2025 - EPS up 21% and dividends up 18% on strong rental growth and logistics expansion.LMP
H2 202519 Nov 2025 - Portfolio expanded to £7.3 billion with strong rent growth and enhanced financing options.LMP
Trading Update9 Jul 2025
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