LONDON (dpa-AFX) - Hammerson plc (HMSO.L) reported a first-half loss before tax of 319.2 million pounds compared to profit of 55.8 million pounds, prior year. Loss per share was 41.8 pence compared to profit of 7.0 pence. During the first half of 2019, the Group's portfolio suffered a total net revaluation deficit of 423 million pounds. Adjusted profit declined 10.5% to 107.4 million pounds. Adjusted EPS was 14.0 pence, down 7.3% impacted by the on-going disposal programme.
First-half revenue was at 124.8 million pounds compared to 152.5 million pounds, prior year. Net rental income declined 12.3% to 156.6 million pounds.
The Directors have declared an interim dividend of 11.1 pence per share, flat year-on-year. The interim dividend is payable on 7 October 2019 to shareholders on the register at the close of business on 30 August 2019.
Separately, Hammerson plc also announced the sale of a 75% stake in Italie Deux, and the forward sale of 75% of the Italik extension for a total of 423 million pounds. The deal takes Hammerson's total disposals in 2019 to 456 million pounds, and over 90% of its 500 million pounds target for the year.
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