LondonMetric Property Full Year 2024 Earnings: Beats Expectations

LondonMetric Property (LON:LMP) Full Year 2024 Results

Key Financial Results

• Revenue: UK£178.0m (up 31% from FY 2023).
• Net income: UK£118.7m (up from UK£506.3m loss in FY 2023).
• Profit margin: 67% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses.
• EPS: UK£0.11 (up from UK£0.52 loss in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

LondonMetric Property Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) also surpassed analyst estimates by 108%.

The primary driver behind last 12 months revenue was the Distribution segment contributing a total revenue of UK£115.2m (65% of total revenue). The most substantial expense, totaling UK£37.9m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how LMP's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 3 years, while revenues in the REITs industry in the United Kingdom are expected to remain flat.

Performance of the British REITs industry.

The company's shares are down 2.5% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with LondonMetric Property (at least 2 which make us uncomfortable), and understanding these should be part of your investment process.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.