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Property investor London Metric Property swung to a loss as a sharp decline in the value of its property portfolio weighed on performance.
For the year ended 31 March, the company reported pre-tax loss of £6.7m on-year compared with a profit of £119.5m on-year, while revenue was up 31% to £113.4m.
Net rental income was up 24% to £115.9m, and the company reported a loss of £3.8m on the revaluation of investment properties, compared with a gain of £76m last year.
The company lifted its dividend 1% to 8.3p a share.