2nd Dec 2021 12:13
Hammerson PLC - London-based real estate investment trust focused on shopping centres - Expects financial 2021 adjusted earnings will be no less than GBP60 million, which is sharply higher than GBP36.5 million in 2020. Reported pretax loss of GBP1.73 billion in 2020.
"This is due to an improved outlook for net rental income, principally from stronger collections rates, and a better-than-expected performance from Value Retail," company explains.
Says footfall in last seven days in the UK and Ireland currently stands at about 90% of comparable period in 2019, and France at around 85%. "Sales continue to show encouraging trends, reflecting higher spend per visit and larger basket sizes, particularly in the UK where October sales were 6% higher than 2019."
Notes rent collection rates continue to improve, with fourth quarter collection to end of November at 86%. For 2021, collection rate at 84%, down on 96% in 2020.
Current stock price: 32.14 pence in London; ZAR6.64 in Johannesburg
Year-to-date change: up 29% in London; up 28% in Johannesburg
By Paul McGowan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Hammerson