20th Feb 2026 11:32
(Alliance News) - Segro PLC on Friday reported a decline in pretax profit for 2025, despite increased revenue, as lower valuation gains offset record rental income.
The London-based property developer reported GBP560 million in pretax profit for 2025, down 12% from GBP636 million in 2024. Adjusted pretax profit, which strips out property valuations, increased 8.3% to GBP509 million from GBP470 million.
Revenue rose 7.6% to GBP726 million, beating the Financial Times-cited analyst consensus average of GBP698.5 million, and up from GBP675 million in 2024.
The weaker earnings amid the improved top line are owed to smaller realised and unrealised property gains, down 72% at GBP55 million, compared to GBP195 million a year earlier.
Segro reported a record GBP99 million of new headline rent secured, up from GBP91 million in 2024. It added that a strong asset management performance led to 6.0% like-for-like net rental income growth.
Net asset value per share rose 7.6% to 925 pence from 907p, and Segro lifted its final dividend by 5.9% to 21.4p from 20.2p. This brought its total dividend for 2025 to 31.1p, up 6.1% from 29.3p.
Segro shares were up 0.3% to 800.36 pence each on Friday morning in London.
"Segro delivered a strong performance in 2025. We signed a record level of new rent through the excellent asset management of our existing portfolio and the signing of several large pre-lets, particularly in the second half of the year as structural drivers started to re-assert themselves and demand picked up," said Chief Executive David Sleath.
"This momentum has continued into 2026 and we take confidence from the increased enquiry levels and active negotiations that we are having with a diverse range of industrial, logistics and data centre occupiers for both new and existing space."
By Martin Miraglia, Alliance News reporter
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