STRONG RESULTS
Economic growth in Europe rewards Hammerson
The company’s basic earnings a share climb a whopping 75%
Hammerson Reit, a leading European shopping centre owner, performed well in the six months to June, largely due to economic growth in Europe. The company’s basic earnings a share climbed 74.9% and interim dividend a share rose 5.9% in the reporting period. Hammerson, one of the largest property stocks on the JSE, is considered by analysts to be one of the most undervalued with significant potential. The European shopping centre group, which has a market capitalisation of nearly R79bn, listed on the JSE in September 2016 in a bid to extend its shareholder base. "Today we announce another strong set of results, underpinned by record leasing activity and positive capital value growth right across our business, which has been boosted by our high-growth markets in Ireland and premium outlets," said CEO David Atkins. "This performance is particularly pleasing in the context of a more uncertain political and economic backdrop and structural shifts in the retail sector." Hammerson is an own...
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