Footfall and sales also show growth in Hammerson’s retail locations

  • Hammerson reports a 6% increase in like-for-like gross rental income
  • Adjusted earnings growth up 11% to £116m
  • Footfall across retail locations up 3%
  • LFL sales in the UK up 1% and 3% in France
  • Gross rental income slightly dipped from £215m to £208m
  • Flagship portfolio occupancy remains strong at 95%
  • Value Retail division records a 10% increase year-on-year
  • Footfall across Villages increases by 9% year-on-year
  • Group expects consumer spending to be resilient
  • CEO highlights positive performance and strong operational platform

Hammerson has reported a 6% increase in like-for-like gross rental income following a record year of leasing with 306 deals. The company also saw an 11% increase in adjusted earnings growth to £116m. Footfall across its retail locations was up 3%, with LFL sales in the UK up 1% and 3% in France. However, gross rental income slightly dipped from £215m to £208m. The flagship portfolio occupancy remained strong at 95% year on year. The Value Retail division recorded a 10% increase year-on-year and was 5% above 2019 levels. Footfall across the Villages, such as Bicester and La Vallée, also saw a 9% increase year-on-year but remained below 2019 levels. Looking ahead, the group expects consumer spending to be resilient, with an improving outlook for 2024. CEO Rita-Rose Gagné highlighted the positive performance across key strategic, operational, and financial metrics, including the 6% increase in like-for-like gross rental income, strong occupancy, and growth in footfall and sales. Gagné also emphasized the company’s focus on urban locations and its vision of vibrant, 24/7 multi-use estates. The company is confident in its pipeline of leasing and repurposing opportunities and expects continued growth in the year ahead.

Factuality Level: 8
Factuality Justification: The article provides specific details about Hammerson’s financial performance, including increases in like-for-like gross rental income and adjusted earnings growth. It also includes quotes from the company’s chief executive, giving insight into their strategic vision and future outlook. The information presented is relevant, accurate, and objective, without any obvious bias or misleading information.
Noise Level: 3
Noise Justification: The article provides detailed information about Hammerson’s financial performance, including increases in rental income, earnings growth, footfall, and sales. It also includes quotes from the company’s chief executive, giving insight into their strategic vision and future outlook. However, the article lacks critical analysis, does not question the company’s performance or decisions, and mainly presents positive information without exploring potential risks or challenges.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets impacted by this news article are the real estate market and the retail industry. Hammerson, a real estate company, reported an increase in like-for-like gross rental income and adjusted earnings growth. The performance of Hammerson and its retail locations provides insights into the health of the real estate and retail sectors.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: There is no mention of an extreme event in the news article.

Reported publicly: www.retailsector.co.uk