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Pin to quick picksHammerson Share News (HMSO)

Share Price Information for Hammerson (HMSO)

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Share Price: 38.72
Bid: 38.62
Ask: 38.65
Change: -0.73 (-1.85%)
Spread: 0.03 (0.08%)
Open: 39.73
High: 39.73
Low: 38.61
Yest. Close: 39.45
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TOP NEWS: Hammerson names new CFO; second quarter rent below 50%

Tue, 20th Apr 2021 09:21

(Alliance News) - Hammerson PLC on Tuesday said it has received just over half the rent due for its first-quarter, but only 40% for the second quarter.

In addition, the company named a new chief financial officer to succeed James Lenton.

Much of the property investor's retail units were allowed to trade again in England after virus restrictions there eased last week Monday. In Scotland, a similar easing of curbs occurs next week Monday while in France, Hammerson noted "stringent restrictions remain in place".

"At group level, 40% of Q2 2021 rent due has been received to date, with the UK collecting 48%, France 23%, and Ireland 34%. An aggregate 46% of H1 2021 rent due has been received," the company said.

For the first quarter, 51% of rent has been received.

Hammerson added: "The company continues to work hard with brand partners to focus on improving collection rates on agreed rents. Looking forward to when all occupiers are able to operate, we expect collection rates for both the current year and FY20 to continue to improve as restrictions are eased across territories."

In England, footfall as its units is around "four-fifths" of pre-Covid-19 levels. In Ireland, Hammerson noted non-essential retail, leisure and hospitality are expected to reopen in late May or early June. The Irish government will set out a roadmap in early May.

On Tuesday, the company announced the appointment of Himanshu Raja as chief financial officer, succeeding Lenton who gave notice of his resignation back in January. Himanshu has previously served as CFO of security services firm G4S PLC and estate agent Countrywide PLC. Both were London listing subsequently taken over.

"Himanshu is an experienced CFO who brings a blend of strong financial, strategic and leadership qualities," Chief Executive Rita-Rose Gagne said.

Raja joins takes up the role on Monday.

Hammerson shares were 3.0% lower at 36.86 pence each in London on Tuesday morning. In Johannesburg, the stock was down 2.9% at ZAR7.34.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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