27th Feb 2026 11:11
(Alliance News) - Tritax Big Box REIT PLC on Friday reported increased rental income and raised its dividend, although pretax profit decreased, for its latest year.
The real estate investment trust, which is focused on "big box" logistics properties, is scheduled to join the FTSE 100 index on Monday.
Tritax's net rental income increased 11% to GBP305.3 million in 2025, from GBP276.0 million in 2024.
Pretax profit fell around 19% to GBP363.3 million from GBP445.8 million. Basic earnings per share decreased 27% to 14.39p from 19.67p. Tritax also noted a one-off GBP2.1 million expense from "exceptional items"; a GBP11.5 million loss on disposal of investment properties, flipped from a GBP8.4 million gain; and a GBP29.1 million impairment of intangible and other property assets, increased from GBP4.0 million.
Adjusted earnings, or post-tax earnings including licence fees receivable on forward funded development assets, finance income on interest rate derivatives, and other measures, rose 11% to GBP223.8 million, from GBP201.7 million.
The firm's IFRS net asset value per share was 187.22 pence as of December 31, up 1.7% from 184.12p one year prior.
Shares in Tritax were down 0.1% at 170.10p in London on Friday morning.
"Over the past year, Tritax Big Box has taken important strategic steps...The successful integration of the UKCM logistics assets, together with the portfolio acquisition from Blackstone, has [strengthened] our end-to-end offer and further [cemented] our leadership position across the UK supply-chain spectrum," said Chair Aubrey Adams. "In parallel, we have launched our data centre programme, pioneering an innovative 'power-first' approach...In just 12 months, we have assembled a high-quality pipeline and made significant progress, positioning the company to generate exceptional returns for Big Box shareholders from the most compelling structural growth opportunity in real estate."
The company has also declared a total dividend of 8.00p per share for the year, up 4.4% from 7.66p for 2024.
Looking ahead, Tritax stated: "With record rental reversion and a greater proportion of the portfolio subject to review this year, we expect an acceleration in asset management opportunities translating into higher like-for-like rental growth in 2026."
Adams, meanwhile, commented: "Underpinned by a high-quality, resilient logistics portfolio, a well-positioned development pipeline, strong foundations in data centres, delivered efficiently through our externally managed structure, we look ahead with confidence in delivering our ambition of 50% growth in adjusted earnings by the end of 2030."
By Emma Curzon, Alliance News reporter
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