LONDON (dpa-AFX) - Capital Shopping Centers Group Plc (CSCG.L) Wednesday released the Interim Management statement for the period from 1st January 2012 to 25 April 2012, stating that the retail environment in the UK remains tough and challenging, but the company would reap benefits from its acquisition of the Trafford Centre last year.
The company stated that it had opened 27 new stores during the period in review, and is determined to focus on securing the right retailers in the right places paying the right rents with the objective of achieving strong total returns.
The company stated that it has signed 42 new long term leases during this period that would yield annual rent around 10 per cent above previous passing rent and in line with ERV.
The company further added that footfall has declined 2 percent year-to-date, outperforming the national average.
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© 2012 AFX News
