Hammerson narrows losses in H1 on improved portfolio performance

Thu, 5th Aug 2021

Shopping centre owner Hammerson narrowed half-yearly losses amid improved performance in its property portfolio. For the six months ended 30 June, pre-tax losses narrowed to £160.5 million from £505.2 million year-on-year, while gross rental income fell to £66.9 million from £92 million. The revaluation loss on properties were £140.2 million, narrower than the £442.7 million last year. The company declared a dividend of 0.2 pence per share. 'Whilst the results for the six months ended 30 June 2021 continue to be impacted by the ongoing pandemic, this has been less severe than the initial shock of Covid-19 in the comparative period and adjusted earnings, at £20.1 million, are 14% higher than in the first six months of 2021,' the company said. Story provided by StockMarketWire.com

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