Hammerson moves back into the black
Tuesday 03 August 2010
The Anglo-French property company Hammerson swung back to profit in the first six months of this year, boosted by a resilient retail economy either side of the Channel and robust demand for office space in London.
For the six months to 30 June, the property company delivered a pre-tax profit of £336m, following a calamitous loss of £819m last year. Hammerson's return to the black reflected a £259m rise in the value of its property portfolio.
Across the group, the property specialist reported occupancy levels of 96 per cent at the end of the half year, compared with 95 per cent on 31 December 2009. Hammerson cited an improved retail environment in both France and the UK during 2010, along with demand for office space in central London reaching a three-month high during the first quarter.
While its overall net rental income fell because of disposals, its underlying rental stream was up by 5 per cent. However, Hammerson said the outlook "remains uncertain".
International Women's Day 2014: The shocking statistics that show why it is still so important
Oscar Pistorius trial: The week he went from a hero of his nation and the world, to a gun-loving hothead
International Women’s Day: 'When a man gives his opinion, he's a man. When a woman gives her opinion, she's a bitch' - feminist quotes from female icons to inspire you
Malaysia Airlines plane: Oil slick is first sign that missing flight crashed into sea killing up to 239 on board
International Women's Day 2014: Cherie Blair - ‘Today is a chance to see how far we still have to go’
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Ukraine crisis: Russia dismisses '3am ultimatum' as 'total nonsense'
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
White people become less racist just by moving to more diverse areas, study finds
Exclusive: Impact of immigrants on British workers ‘negligible’
- 1 To those who can’t see the point of International Women’s Day: you are the very reason it exists
- 2 International Women's Day 2014: The shocking statistics that show why it is still so important
- 3 Orgasm machine to deliver climax at the push of a button
- 4 Singapore sting: Sky-high prices are pushing locals to the edge of affordability
- 5 Liam Neeson turned down James Bond role because late wife Natasha Richardson said she wouldn't marry him if he took it
iJobs Money & Business
£12000 per annum: Inspiring Interns: The company works with Tier 1 FTSE 100 Ba...
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£37000 - £40000 per annum + £20000 benefits package: Pro-Recruitment Group: **...
£30000 - £35000 per annum + generous benefits: Pro-Recruitment Group: Mixed Ta...