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LondonMetric Property Turns To Profit In HY

LondonMetric Property PLC (LMP.L) reported that its net income attributable to equity shareholders for the six months ended 30 September 2020 was 85.1 million pounds or 9.49 pence per share compared to a loss of 10.2 million pounds or 1.31 pence per share last year.

The prior year results included one off acquisition costs related to the Mucklow transaction of 57.2 million pounds.

EPRA earnings per basic share increased by 3.9% to 4.75 pence, driven by an 11.7% increase in net rental income and 9.6% reduction in finance costs.

Gross revenue grew to 60.7 million pounds from 53.5 million pounds in the prior year.

"Whilst we cannot predict the future, we do know that our tactical switch has positioned us on the right side of the structural changes. As a long term investor, we remain optimistic about the future and whilst we will invest like optimists we will continue to prepare like realists," the company said.

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