Intu Properties’ CEO David Fischel is confident that the group’s prospects will improve in the second half of its 2017 financial year as confidence and clarity return to the British economy. First-half like-for-like net rental income for the owner of shopping centres in Britain and Spain fell 1.5% in line with previous guidance which Intu gave the market. After increases of 1.8% in 2015 and 3.6% in 2016, like-for-like net rental income fell 1.5% in the period, against a strong comparative 7.5% increase for the first half of 2016. "Intu has performed robustly over the six-month period in a UK retail environment which continues to be challenging. Retail brands are being selective in their expansion, looking at established locations such as our 17 prime shopping centres, which are attracting high foot-fall through their differentiated offering and compelling customer experience," said Fischel. Intu’s tenants had been resilient, which was shown in the company’s centres having recorded 1...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.