Hammerson expects earnings for 2021 to top £75m, as rental income exceeds expectations.
The troubled retail landlord had previously said that earnings could be as low as £60m, but now estimates that they will be between £75m and £80m.
The REIT said it had not been helped by Covid restrictions softening trade over the crucial Christmas period, but despite this, footfall had steadily increased and sales had nearly returned to 2019 levels.
It added that the company had now collected 88% of 2021’s £207m rent bill, and 97% of 2020’s. Collections for Q1 of 2022 are currently 74% of the £42m demanded. The UK remains the strongest performer, with 78% of rent collected. Ireland stands at 75% and France at 66%.
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