Hammerson : HMSO – Final results

Hammerson has announced results for the period ended 31 December 2013 that show its EPRA NAV rising to £5.73 from £5.42, a gain of 5.7%. EPRA earnings per share rose by 10.5% to 23.1p, aided by a 2.1% growth in like for like rental income and occupancy of 97.7% and Hammerson announced an 8% increase in the final dividend to take total dividends for the year up to 19.1p, from 17.7p. LTV rose slightly to 38% but they managed to cut their weighted average interest rate to 4.8%.

Highlights for the year included letting 93% of Les Terrasses du Port, Marseille, on schedule to open 3 May 2014. Construction starting at Le Jeu de Paume, Beauvais; Silverburn extension, Glasgow; and Cyfarftha, Merthyr Tydfil. Commencing works at Victoria Gate, Leeds. Hammerson also got planning approval for major retail development in Croydon (where they have a 50% jv with Westfield) and a 90,000 sqm extension to Brent Cross.

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