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Segro PLC on Thursday reporting higher interim profit, asserting the business is ‘well-placed’ for further attractive compounding growth, as it raised its dividend.
The London-based property developer and investor said pretax profit rose 12% to £264 million in the first half of 2025 from £235 million a year ago.
Assets under management over the half-year increased 5.6% to £21.44 billion on June 30 from £20.30 billion on December 31.
Segro noted ‘encouraging levels of demand’ for its speculatively developed urban space.
It raised its interim dividend by 6.6% to 9.7 pence from 9.1p a year ago.
‘Segro continues to be positioned well for further growth,’ it said. ‘Our portfolio is of irreplicable quality, having been purposefully curated over the past 15 years. Two-thirds of it is located in Europe’s largest cities, with the remaining one-third strategically located near logistics hubs and along key transportation corridors. These locations remain in high demand from occupiers, supported by powerful, enduring structural trends, and have a shortage of modern, sustainable space with low land availability and restrictive planning policies which limit the supply of new, competing space.’
Segro shares were up 1.6% at 654.73 pence on Thursday morning in London.
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