Hammerson posts drop in annual profit

In 2019, adjusted EPS at Hammerson plc decreased by 2.6 pence or 8.5 percent to 28 p, which the company said was driven by the reduction in NRI associated with disposals in 2018 and 2019 and a weaker performance across the UK like-for-like portfolio. The group’s adjusted profit was 214 million pounds (277 million dollars), 26.3 million pounds or 10.9 percent lower than in 2018. Net rental income was down 11.2 percent to 308.5 million pounds (399.8 million dollars), while the company added, total disposals of 975 million pounds (1,263 million dollars), including 542 million pounds generated in 2019 were ahead of 500 million pounds target.