25th Feb 2026 10:14
(Alliance News) - Hammerson PLC on Wednesday raised its dividend as it reported higher net tangible assets and a strong rental income growth forecast.
The London-based real estate investment trust focused on city-centre shopping centres said revenue jumped 75% to GBP211.4 million in 2025 from GBP121.1 million a year prior.
It swung to a pretax profit of GBP233.1 million from a loss of GBP42.3 million in 2024, helped by a net revaluation gain of GBP84.6 million compared to a GBP20.6 million revaluation loss in 2024.
Net rental income climbed 23% to GBP180 million from GBP146 million. Like-for-like net rental income was up 3%, helped by active asset management and record leasing activity.
The firm declared a final dividend of 8.56 pence per share, up 6.1% from 8.07p a year ago. The dividend for the full year was up 5.6% at 16.50p from 15.63p.
EPRA net tangible assets per share grew 6.5% to GBP3.94 from GBP3.70.
"I'm excited to be leading Hammerson as we embark on our next phase of growth. These strong results are testament to the quality of our unique portfolio, our integrated pure-play platform, and the hard work of our teams. The success of best-in-class retail-led city destinations is evident in our record leasing at positive spreads, very high occupancy, and growing footfall and sales, leading to rental growth," said Chief Executive Rob Wilkinson.
"We will maintain our focus on our ongoing active asset management and targeted leasing. This gives us high visibility of our income streams. We have a clear line of sight to growth in rental income, earnings and dividend in FY26 and beyond, with multiple paths for growth, further increasing our scale and value creation."
Looking ahead, Hammerson said it expects net rental income growth of around 20% in 2026, with like-for-like growth between 4% and 5%.
It expects EPRA earnings growth of 15%. EPRA earnings grew 5.1% to GBP104 million in 2025 from GBP99 million.
The company sees earnings per share growth of 10% in 2026, after EPRA earnings per share climbed 4.0% to GBP20.7p in 2025 from 19.9p.
"Notwithstanding the uncertain macroeconomic environment, we have high visibility of our long-term income streams, and expect further growth in net rental income and EPRA earnings in FY27 and beyond," Hammerson added.
Shares in Hammerson were up 5.1% at 366.80 pence on Wednesday morning in London. In Johannesburg, the stock was 3.1% higher at ZAR78.71.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Hammerson