REG-London & Associated Properties Plc: Results for 12 Months to 31 December 2024

London & Associated PropertiesAnnouncement

Wed 07:30

FOR IMMEDIATE RELEASE

30 April 2025

LONDON & ASSOCIATED PROPERTIES PLC:

RESULTS FOR 12 MONTHS TO 31 DECEMBER 2024

The 2024 Annual Report and Accounts is now available to view at:

www.lap.co.uk/investor-document/annual-report-and-accounts/. A copy has been
submitted to the National Storage Mechanism, in accordance with Listing Rule
9.6.1

HIGHLIGHTS
* Profit after tax for the year of £2.8 million compared to a loss of £3.8
million last year
* Loss for the year attributable to shareholders of £0.4 million compared to
loss of £3.9 million last year
* Bisichi (41.6% owned) reported profits after tax attributable to
shareholders of £1.1 million compared to £0.3 million last year
* Increase in value of investment properties of £1.8 million (4.8%) compared
to a small decrease last year
* Like-for-like rental income increased 3.0% to £3.5 million, reflecting
rents achieved on new lettings:
* At our Warrington industrial estate, we achieved a rental uplift from £6.25
to £9.25 psf on a new letting
* The resilience of our rental income is underpinned by 96.4% occupancy levels
against 97.3% in 2023 while rent collection levels are up to 94% in Q1 2025
compared with 92% in Q1 2024
“Our consolidated property portfolio was valued at £48.0 million at 31
December 2024 (2023: £46.1 million) reflecting the resilience of our
assets.” John Heller, Chairman & Chief Executive.

Contact:

John Heller, Chairman & Chief Executive, LAP
                                  Tel: 020
7415 5000
Jonathan Mintz, Finance Director,
LAP                                             
Tel: 020 7415 5000
Baron Phillips, Baron Phillips Associates
                                          
Tel: 07767 444193 


 Click here to view full announcement
(https://mb.cision.com/Public/22505/4143087/80248c866726b6b9.pdf)

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