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LondonMetric Property Posts HY Loss - Quick Facts

LondonMetric Property Plc. (LMP.L) reported that its loss attributable to equity shareholders for the six months ended 30 September 2019 was 10.2 million pounds or 1.3 pence per share, compared to net income of 79.3 million pounds or 11.3 pence per share in the prior year. The latest- period result included goodwill and Mucklow transaction costs of 57.2 million pounds.

EPRA earnings for the enlarged group increased 13.9% to 35.2 million pounds, growing 2.9% on a per share basis since last year to 4.6 pence.

Gross revenue was 53.5 million pounds up from 43.3 million pounds last year.

The company noted that its expectations of income growth contrasts sharply with expectations for the wider property market where rental income is either flat or falling and where there is pressure on maintaining dividends.

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