Londonmetric Property Plc (LNSPF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.316 Great morning, ladies and gentlemen, and welcome to London Metrics half-year 00:00:05.316 -- 00:00:08.939 results presentation. Right, so normal 00:00:08.939 -- 00:00:11.782 line-up this morning. I'm going to give you a quick overview. 00:00:11.782 -- 00:00:14.544 I'm going to hog all the good numbers, 00:00:14.544 -- 00:00:20.049 pass over to Martin, he'll do a deep dive for you, and then I'll come back to talk about 00:00:20.049 -- 00:00:25.534 our activity and the makeup of the portfolio and our outlook for the periods ahead, 00:00:25.534 -- 00:00:30.881 and then we'll open it up to Q&A, and we have a our team in the front rowing, 00:00:30.881 -- 00:00:33.947 which actually now includes Carl, uh, which is good. 00:00:33.947 -- 00:00:37.213 So any really difficult questions are going his way. 00:00:37.213 -- 00:00:42.423 Um, and, uh, and, uh, and then hopefully we'll, we'll be all wrapped up, um, 00:00:42.423 -- 00:00:46.466 by, uh, by about 11. Um, so. 00:00:48.013 -- 00:00:51.263 Okay. So, um, 00:00:51.263 -- 00:00:56.512 We retain our position, in our opinion, as the UK's leading triple 00:00:56.512 -- 00:01:01.641 net income REIT. Our objective is to continue to own mission critical 00:01:01.641 -- 00:01:04.306 assets across the winning sectors of real estate. 00:01:04.306 -- 00:01:07.091 I'll come on to talk about this a little bit later because it is a theme throughout the 00:01:07.091 -- 00:01:11.219 presentation. We want to make the right macro calls. 00:01:11.219 -- 00:01:16.267 Logistics is our strongest exposure, partly because it gives us the best rental 00:01:16.267 -- 00:01:22.337 growth. So that's back up at 54%. And then we have our hospitality entertainment, 00:01:22.337 -- 00:01:27.445 which is dominated by our ...