For the six months ending 30 June, shopping complex operator, Hammerson has just reported Net rental income of £184m, a rise of 9.7% in like-for-likes, up from £167.7m.
The firm, which owns, manages and develops 58 properties in the UK, Ireland and France, saw adjusted profit increase by 6% to £119.4m, up from £112.6m.
The twelve UK shopping centres produced a return of 3.1%, and the eleven UK retail parks saw a return of 4%.
David Atkins, Chief Executive of Hammerson, said, “Today we announce another strong set of results, underpinned by record leasing activity and positive capital value growth right across our business, which has been boosted by our high-growth markets in Ireland and premium outlets.
'This performance is particularly pleasing in the context of a more uncertain political and economic backdrop and structural shifts in the retail sector. In an environment of continuing retail polarisation, brands are prioritising our well invested, prime locations to support a multichannel platform.
'This demonstrates the relevance of our portfolio and the success of our strategy focused on prime retail destinations in growing consumer markets, ensuring that we remain one of the winners of retail evolution.'
Atkins concluded, 'The consistent application of our Product Experience Framework to enhance retail design, digital solutions, customer engagement and sustainability underpins these results.
'Whilst we are beginning to see a softer consumer backdrop and increased headwinds for retailers in the UK, given our leading assets and the diversity of our portfolio across the rest of Europe, I am confident that we will continue to grow income and dividends in line with previous guidance.”
