Hammerson dodges UK gloom to post sales rise

Kasmira Jefford
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HAMMERSON, one of Britain’s largest retail landlords, has brushed off challenges in the retail market, reporting a 1.9 per cent rise in like-for-like sales across its shopping centres in their half-year results yesterday.

David Atkins, Hammerson’s chief executive, said the group had seen “little impact” from the rise in retailers going into administration despite the challenging backdrop.

Pre-tax profit fell by 42.6 per cent to £192.8m, while its property portfolio grew in value by 2.2 per cent, with a 2.6 per cent rise in footfall across its UK shopping centres.

The landlord said it is pressing ahead with £1.1bn worth of near-term developments after a “period of restrained activity”, including two landmark office buildings at London Wall Place, which the firm is due to start building next year.