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    HMSO   GB00BK7YQK64

HAMMERSON PLC

(HMSO)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 06/23 11:18:38 am
39.665 GBX   +0.32%
06/01HAMMERSON  : submits plans for regeneration of landmark Dublin site
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06/01HAMMERSON PLC  : Annual results
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05/28HAMMERSON PLC  : Crossing thresholds
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Hammerson : appoints CFO as England mall visitors return

04/20/2021 | 02:43am EDT

* Names new CFO

* Malls in England reopened on April 12

April 20 (Reuters) - Hammerson on Tuesday named a new finance chief and said the number of visitors at its shopping malls in England in the past week had risen to around 80% of 2019 levels after restrictions were eased.

Malls, restaurants and pubs were allowed to reopen on April 12 in England after multiple lockdowns in the past year.

The owner of the Brent Cross shopping centre and the Bullring in Birmingham said footfall in the past week was at about 80% of levels seen in April 2019 as it looks to recover from lockdowns which slashed sales last year.

So far it had collected 40% of the second-quarter rents that are due at group level, Hammerson said.

In France and other regions where Hammerson operates, however, it said market conditions remained challenging as it still faces pandemic-related restrictions. Hammerson's portfolio spans seven countries.

Its London-listed shares were down 3.4% by 0816 GMT.

The company named Himanshu Raja as its new chief financial officer (CFO) to support CEO Rita-Rose Gagné's strategic review of the business.

Raja was most recently CFO at real estate agent Countrywide and previously held that post at private security firm G4S.

The COVID-19 pandemic has magnified problems for retailers battling against online rivals as lockdowns boost online spending.

Hammerson has been overhauling its business, raising equity, and selling some of its portfolio as it tries to fix its balance sheet. It reported a 1.7 billion pound loss in 2020.

Last week it said it was in talks to sell its retail parks portfolio to Canadian private equity firm Brookfield Asset Management.

Analysts said the company would need to make further disposals.

"Hammerson is still fighting against the tide," Liberum analyst Tom Musson wrote in a note on Tuesday. "Without (further material disposals), another dilutive equity injection may be needed." (Reporting by Yadarisa Shabong in Bengaluru; editing by Shounak Dasgupta and Jason Neely)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BROOKFIELD ASSET MANAGEMENT INC. -0.74% 61.39 Delayed Quote.16.70%
HAMMERSON PLC 0.40% 39.7 Delayed Quote.59.11%
All news about HAMMERSON PLC
06/01HAMMERSON  : submits plans for regeneration of landmark Dublin site
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06/01HAMMERSON PLC  : Annual results
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05/28HAMMERSON PLC  : Crossing thresholds
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05/27Mall operator Hammerson launches 700 million euro sustainability-linked bond
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05/27HAMMERSON  : launches first real estate Sustainability-Linked Bond of €700m
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05/26HAMMERSON PLC  : Crossing thresholds
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05/21HAMMERSON PLC  : Crossing thresholds
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05/20HAMMERSON  : Launches Euro-Denominated Bond Tender Offer
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05/19HAMMERSON  : Completion of retail parks portfolio disposal
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05/10HAMMERSON  : UK's largest EV charging hub set to electrify Brent Cross
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More news
Financials
Sales 2021 274 M 383 M 383 M
Net income 2021 -565 M -790 M -790 M
Net Debt 2021 2 016 M 2 820 M 2 820 M
P/E ratio 2021 -1,79x
Yield 2021 2,83%
Capitalization 1 662 M 2 313 M 2 324 M
EV / Sales 2021 13,4x
EV / Sales 2022 13,7x
Nbr of Employees 518
Free-Float 77,9%
Chart HAMMERSON PLC
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Technical analysis trends HAMMERSON PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 18
Last Close Price 39,54 GBX
Average target price 26,31 GBX
Spread / Average Target -33,5%
EPS Revisions
Managers and Directors
NameTitle
Rita-Rose Gagné Chief Executive Officer & Executive Director
Himanshu Haridas Raja Chief Financial Officer & Executive Director
Robert Montague Noel Non-Executive Chairman
Grégoire Peureux Chief Operating Officer
Simon Charles Travis Director-Group Investment
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