Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Shopping centre owener Hammerson upgraded its outlook on earnings as rental income rose more than exepcted amid better-than-expected rental income and a strong recovery in footfall that has continued into 2022.
Fiscal 2021 adjusted earnings would be in the range of £75-to-80 million, ahead of the minimum of £60 million previously indicated.
FY20 group rent collections stood at 97% of billable rent; FY21 collections were at 88%.
Q1 22 collections to date were at 74% of billable rent. 'We expect collection rates to continue to improve as we go through the quarter,' the company said.
'Overall, footfall recovered strongly during the year, particularly when restrictions were eased, with some destinations exceeding 2019 levels and consistently exceeding national indices.'
'This trend has continued in 2022 to date.