Hammerson posts increase in Q1 sales, footfall

British property giant Hammerson has reported an increase in sales and footfall in the first quarter of the year as it continued to recover from the pandemic.

Footfall in the UK and France were up 6 percent year-on-year, while footfall in Ireland jumped 13 percent.

Sales, meanwhile, were up 6 percent in the UK, 11 percent in France, and 7 percent in Ireland.

Hammerson chief executive Rita-Rose Gagné said in a statement: “We have maintained our focus on execution during the first few months of the year.

“We have a strong operational grip which is delivering top line growth, with continued momentum in leasing and a strong pipeline.

“We have further reduced costs, with more to come as we create a sustainable and agile platform.”

She added that the company has exited minority stakes in France and other non-core interests, bringing its total disposals since the start of 2021 to over 840 million pounds.

“Looking forward, we have strong momentum and remain on track to return to cash dividends as previously guided,” Gagné said.

Like-for-like net rental income increased 5 percent in the first quarter.

Bicester Village owner Value Retail also had a “strong start to the year”, with spend per visit up 3 percent year-on-year.