Londonmetric Property Plc (LNSPF) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

All good. All right. Morning, ladies and gentlemen, and welcome to London Metrics full-year results. It's quite a long table just for Martin and I, but actually I'm going to open up with congratulating Steve and all the other Arsenal supporters in the room for what has been an incredibly long wait. So well done, Steve. I quite often take the mickey out of you, but today I'm going to congratulate you. That will stop tomorrow. Okay, so quick overview. on the last 12 months. So the company has continued its triple net net income compounding model. We've grown the portfolio up 23% courtesy of obviously external growth as well as internal growth. Continue to invest in the right sectors, mission critical assets. We added 1.5 billion pounds to our portfolio value 1.2 of which came from the acquisition of Urban Logistics and Highcroft. Come on, I'll talk about that in a little bit more detail later on how that's going. Our income continues to flow and grow. Net rental income is up 17% in the year. And again, as you would expect from a budding dividend aristocrat, we have again increased our dividends for the 11th year in a row. It's now up, actually, it's up 3.8% of the year, it's actually up 78% since the creation of London Metric back in 2013, when I probably stood up in a room similar to this and taking questions on whether or not we're going to cut our dividend because we were over-distributing like so many others in our sector. That obviously has been reversed. The portfolio... We added across the portfolio 16.6 million of additional income, 4.2% like-for-like growth. And I'll come on to talk about that. That's effectively a combination of rent reviews, lease renewals, asset management, lease read years, and what have you. And I'll break that down in a bit more detail l...