LONDON (dpa-AFX) - Hammerson PLC (HMSO.L), a British property development and investment company, Thursday reported loss before tax of 24 million pounds for the first half, lower than 33.3 million pounds loss in the same period a year ago, mainly due to lower finance costs as well as higher finance income.
Operating loss, however, widened to 6.8 million pounds from 1.8 million pounds on lower revenue and higher revaluation loss on properties as well as other losses.
Loss from continuing operations narrowed to 24.1 million pounds or 0.5p per basic share from 33.3 million pounds or 0.7p per basic share last year.
Net loss was 516.7 million pounds or 10.4p per share, significantly higher than 1.2 million pounds or breakeven per share a year ago.
Excluding one-time items, the company posted adjusted earnings of 49.5 million pounds or 1p per share, lower than 55.9 million pounds or 1.1p per share last year.
Revenue from continuing operations was 59.4 million pounds, down from 69.1 million pounds a year ago.
Net rental income declined to 72.2 million pounds from 85.3 million pounds in the previous year, impacted by disposals.
Net assets as on June 30, 2024 were 1.908 billion pounds, down from 2.463 billion as on December 31, 2023.
EPRA NTA per share was 38p, down from 51p as on December 31, 2023.
The Board has declared an interim dividend of 0.756 pence per share, 5 percent up from last year, payable as a PID on September 30 to shareholders on the register on August 23.
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