Hammerson PLC (LSE:HMSO)
£ 2.882 0.054 (1.91%) Market Cap: 1.42 Bil Enterprise Value: 2.52 Bil PE Ratio: 0 PB Ratio: 0.75 GF Score: 75/100
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Full Year 2023 Hammerson PLC Earnings Call Transcript

Feb 29, 2024 / 09:45AM GMT
Release Date Price: £2.54 (+2.50%)
Rita;Rose GagnÃ;Hammerson plc;Chief Executive

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So good morning, everyone, and thank you for joining us at our new offices here in Marble Arch. With me today, I have Himanshu Raja, our CFO; and I have Josh, somewhere, our IR Director; and some members of my executive team sitting just in the front row.

So let's kick us off. So I'm pleased to start the day by saying that we've had another strong year. We've delivered GBP116 million in adjusted earnings, and that's 11% up year on year. So this was driven by growth in like-for-like GRI and NRI and also by cost reduction of 14%. 2023 marked actually the coming together of three years of consistent change and strategic execution for which I'm really proud of the team.

This has driven our strong financial and operational performance that you see flow through in the results today. We had another record year of leasing while footfall occupier sales continued to grow and occupancy is stable at 95%. Our core city center destinations are in high demand from quality occupiers and visitors in equal measure and

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