Hammerson plc ("Hammerson" or the "Company")
2 December 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Operational and trading update
Hammerson ("the Company") today announces that, assuming no further periods of covid-related disruption in December, it now expects that FY21 adjusted earnings will be no less than £60m. This is due to an improved outlook for net rental income, principally from stronger collections rates, and a better-than-expected performance from Value Retail.
Footfall in the UK and Ireland currently stands at c.90% of the comparable period in 2019, and France around 85%1. Sales continue to show encouraging trends, reflecting higher spend per visit and larger basket sizes, particularly in the UK where October sales were 6% higher than 2019.
Rent collection rates continue to improve. Q4 21 collections at the end of November stood at 86% for the Group, including a significant improvement in France to 83% since our last update. The UK is at 89% and Ireland 83%. For FY21, the Group collection rate is currently 84%; for FY20 96%.
The announcement above has also been released on the SENS system of the Johannesburg Stock Exchange and Euronext Dublin.
ENDS
1. Last 7 days average.
Enquiries
Hammerson Investor Contact
Josh Warren, Hammerson, Director of Strategy & Investor Relations
T: +44 20 7887 1053 E: josh.warren@hammerson.com
Hammerson Media Contacts
FTI Consulting (for Hammerson)
John Waples
Tel: +44 20 3727 1000/ 07717 814 520 E: john.waples@fticonsulting.com
Richard Gotla
Tel: +44 20 3727 1000/ 07904 122 207 E: richard.gotla@fticonsulting.com
Notes to Editors
Hammerson
Hammerson creates vibrant, continually evolving spaces, in and around thriving European cities, with a focus on flagship retail destinations and premium outlets. As at 30 June 2021, our portfolio of high-quality venues had a value of £5.5 billion and included 21 flagship destinations in thriving cities and investments in premium outlet villages through our partnership with Value Retail. Key retail venues include Bullring, Birmingham, Bicester Village, Oxfordshire, Dundrum Town Centre, Dublin, and Les Terrasses du Port, Marseille.
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