Hammerson PLC - London-based property development and investment company - For the three months ended on March 31, says like-for-like gross rental income growth is up 5%, reflecting "robust leasing, car parking and commercialisation performance". Like-for-like net rental income growth is also up 5%. Says it benefits from solid collections, which stand at 92%. For financial 2022, it stood at 96%. Hammerson notes 61 leases have been signed to date, representing GBP9 million of rent. Says value retail has seen a strong start to the year, with spend per visit up 3%.
Chief Executive Officer Rita-Rose Gagne says: "We have maintained our focus on execution during the first few months of the year. We have a strong operational grip which is delivering top line growth, with continued momentum in leasing and a strong pipeline. We have further reduced costs, with more to come as we create a sustainable and agile platform."
Current stock price in London: 26.28 pence each, down 0.2% on Tuesday morning
12-month change: down 9.3%
Current stock price in Johannesburg: ZAR6.02, flat on Tuesday afternoon
12-month change: up 2.0%
By Xindi Wei, Alliance News reporter
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Hammerson (HMSO)