Exane BNP Paribas says that Hammerson’s balance sheet constraints will cap future earnings growth and which is now stretched relative to self-imposed loan-to-value and net debt limits.
As a result Hammerson’s share price dipped.
J. P. Morgan has also expressed concern.
New Whitgift works delayed to 2017
A few days before Hammerson confirmed in its 2015 Results Statement:that work on the new shopping centre to replace the Whitgift will not start till 2017 with potential completion date 2020/21.
This confirms the announcement last year that the current Whitgift would remain open for two Christmases, as reported in my earlier blog posting.
2016 will see detailed planning submissions.
Other Hammerson Finance News
- Pre-tax profits up 4.5%
- 2015 Results Statement
can be downloaded at http://www.hammerson.com/investors/result-days/2015-full-year-results
- CEO Video Interview
- Investment developments
- 2 Directors Buy its Shares
Hammerson Shopping Centre News
- Plans for Dundrum Town Centre
- Birmingham Centre
- Aberdeen Centre