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