15th Feb 2016 16:35
LONDON (Alliance News) - Hammerson PLC said two of its top executives bought shares on Monday as the property developer reported 2015 results, saying its prime retail portfolio helped it to deliver a rise in pretax profit and rental income.
Chairman David Tyler bought 5,000 shares at GBP5.614 each and now holds 372,056 shares.
Chief Executive Officer David Atkins also bought 5,000 shares at GBP5.584 and now holds 30,000 shares.
Hammerson said Monday its pretax profit for the year to the end of December was GBP731.6 million, up from GBP702.1 million a year earlier as net gains from its property investments, including those with joint ventures and associates, increased.
Hammerson greatly increased its exposure to regional shopping centres recently with the acquisition of the Grand Central shopping centre, which sits atop the redeveloped New Street rail station in Birmingham. It split the GBP350.0 million acquisition price 50:50 with its partner, the Canadian Pension Plan Investment Board.
The stock was up 5.3% at 563.50p near the close Monday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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