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 £9 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: R 6.02, flat on Tuesday afternoon

12-month change: up 2.0%

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