Intu battles through retail gloom

Tough trading conditions and the continued squeeze on consumer incomes weighed down on Intu Properties in the first quarter, as it reported a decline in footfall yesterday. Occupancy was down one per cent from 31 December due to the expiry of seasonal lettings but remained high at 95 per cent, the group said. It also signed 33 new long term leases in the period, adding £8m of new rent per year.