Latest news for Hammerson (OTC:HMSNF) Stock

Hammerson

Hammerson PLC is a real estate investment trust based in the United Kingdom. The company invests in, manages, and develops retail properties in Europe. The REIT's portfolio includes shopping centers, retail parks, outlets, and development projects. The company categorizes its operations into three segments based on geography: the United Kingdom segment, which delivers the majority of total revenue, the France segment, and the Ireland segment. The company generates revenue mainly from leasing its properties to retail tenants.

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New 52-Week Lows for Tuesday Morning

Earnings

Hammerson Posts Rise In Profit

Hammerson Pretax Profit Down 92%

Hammerson PLC

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Hammerson PLC (OTC: <a class="ticker" href="/stock/hmsnf#OTC">HMSNF</a>) reported a gain in its profit for the full year.
Hammerson's net profit for the year surged to 699.1 million pounds ($1.08 billion), or 95.7 pence per share, versus a year-ago profit of GBP337.4 million, or 47.4 pence per share.
Adjusted profit surged to 174.3 million pounds or 23.9 pence per share, compared to 164.5 million pounds, or 23.1 pence.
Profit before tax climbed to 703.1 million pounds from 341.2 million pounds.
Net rental income jumped to 305.6 million pounds, versus 282.8 million pounds.
David Atkins, Chief Executive of Hammerson said, "We have delivered strong results on the back of a significant uplift in asset valuation and continuing income growth. The recovery in UK consumer sentiment has continued to strengthen, driving increased demand from retailers for prime space, which is now translating into ERV growth across the whole portfolio. In France, we have seen an encouraging improvement in performance, reflecting the success of our refurbishment programme."

Hammerson PLC (OTC: <a class="ticker" href="/stock/hmsnf#OTC">HMSNF</a>) posted a 92% decline in its pretax profit for the half year ended June 30.

Hammerson's pretax profit dropped to GBP13.9 million, from GBP174.8 million, in the year-ago period. Its net rental income fell to GBP141.6 million from GBP143.9 million.

Hammerson's operating profit dropped to GBP69.3 million from GBP224.4 million. Its basic and diluted earnings per share came in at 6.6 pence from 26.6 pence. It declared an interim dividend of 7.7 pence per share versus 7.3 pence per share.

Hammerson PLC (OTC: <a class="ticker" href="/stock/hmsnf#OTC">HMSNF</a>) reported a gain in its profit for the full year.

Hammerson's net profit for the year surged to 699.1 million pounds ($1.08 billion), or 95.7 pence per share, versus a year-ago profit of GBP337.4 million, or 47.4 pence per share.

Adjusted profit surged to 174.3 million pounds or 23.9 pence per share, compared to 164.5 million pounds, or 23.1 pence.

Profit before tax climbed to 703.1 million pounds from 341.2 million pounds.

Net rental income jumped to 305.6 million pounds, versus 282.8 million pounds.

David Atkins, Chief Executive of Hammerson said, "We have delivered strong results on the back of a significant uplift in asset valuation and continuing income growth. The recovery in UK consumer sentiment has continued to strengthen, driving increased demand from retailers for prime space, which is now translating into ERV growth across the whole portfolio. In France, we have seen an encouraging improvement in performance, reflecting the success of our refurbishment programme."

Hammerson PLC (OTC: <a class="ticker" href="/stock/hmsnf#OTC">HMSNF</a>) posted a 92% decline in its pretax profit for the half year ended June 30.

Hammerson's pretax profit dropped to GBP13.9 million, from GBP174.8 million, in the year-ago period. Its net rental income fell to GBP141.6 million from GBP143.9 million.

Hammerson's operating profit dropped to GBP69.3 million from GBP224.4 million. Its basic and diluted earnings per share came in at 6.6 pence from 26.6 pence. It declared an interim dividend of 7.7 pence per share versus 7.3 pence per share.

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