LondonMetric (LMP) is a UK REIT admitted on the Official List and to trading on the Main Market of the London Stock Exchange (“LSE”) on 28 January 2013 as a result of the merger between London & Stamford Property plc (LSP) and Metric Property Investments plc (METP). LSP was admitted to the Official List and trading on the Main Market of the LSE on 1 October 2010, and prior to that traded on the AIM market of the LSE from 7 November 2007, and METP was admitted to the Official List and trading on the Main Market of the LSE since its IPO on 24 March 2010.
LondonMetric aims to deliver attractive returns for shareholders through a strategy of increasing income and improving capital values. It invests across the UK in Retail and Distribution properties as well as Greater London real estate opportunities. It employs an occupier-led approach to property investments through opportunistic acquisitions, joint ventures, active asset management and short cycle developments. The asset focus is on properties with enduring occupier appeal providing opportunities to improve both rental values and the security and longevity of income; and limited risk redevelopments with the aim of enhancing shareholder returns.



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StockMarketWire.com
LondonMetric said Wednesday first-half profits were roughly flat compared with a year earlier even as a rise in net rental income boosted earnings growth.

For the six months ended 30 September, pre-tax profits fell to £79.3m from £79.6m a year earlier, while net rental income was up 5.8% to £47.1m boosting earnings -- stated as EPRA net asset value per share to 172.1p a share, up 6.6% from a year earlier.

The portfolio delivered a total property return of 5.4%, significantly outperforming the IPD All Property return of 3.3%, the company said.

The company's property portfolio was also bolstered by a revaluation gain surplus of £51.0m, reflecting a 2.7% uplift, with urban logistics increasing by 4.5%, LondonMetric added.

The dividend was increased by 2.7% to 3.8p a share.