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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| London & Associated Properties Plc | LSE:LAS | London | Ordinary Share | GB0005234223 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 9.50 | 8.00 | 11.00 | 9.50 | 9.50 | 9.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Real Estate Agents & Mgrs | 100.24M | 2.7M | 0.0317 | 3.00 | 8.11M |
Hot Features
Premium
TIDMLAS
FOR IMMEDIATE RELEASE
28 April 2023
LONDON & ASSOCIATED PROPERTIES PLC:
RESULTS FOR 12 MONTHS TO 31 DECEMBER 2022
The 2022 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 for the year attributable to shareholders of £2.7 million compared
to loss of £0.2 million last year
* Like-for-like rental income increased 0.4% to £3.65 million reflecting
resilience of rents achieved on new lettings
* Achieved £5.25 million of retail property sales including £4.75 million for
West Bromwich shopping centre
* Acquisition of £2.35 million Warrington industrial portfolio, with a 33%
increase in rental income since acquisition
* Occupancy levels of 96.4% at year-end against 96.0% in 2021 while rent
collection levels up to 90% in Q1 2023 compared with 83% in Q1 2022
* Replaced expiring 25-year £10.0 million debenture and £3.5 million term
loan with new £13.6 million 5-year term loan with QIB (UK) PLC
* Continued progress made repositioning Orchard Square, Sheffield into
mixed-use and experiential location:
+ Continued revenue growth at street food venue, Sheffield Plate with
waiting list of operators
+ Lettings achieved with new restaurants and bars complimenting existing
offering
* Bisichi delivered EBITDA of £40.0 million against £5.8 million in 2021
"LAP has continued its strategy of moving away from fashion orientated shopping
centres and investing instead in other real estate sectors. ... These results
reflect the resilience of the rents being achieved on new lettings within the
portfolio." 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
END
(END) Dow Jones Newswires
April 28, 2023 02:30 ET (06:30 GMT)
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