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LONDON-Hammerson plc, an investor-developer of shopping centers, retail parks and office sites primarily in France and the United Kingdom, has provided shareholders with a 25.3% return for 2006, the company announced. Hammerson CEO John Richards predicts a similar or better return in 2007.

Although the return in 2005 was 34%, Richards sees no special significance in the difference between the two-year's returns. "It's no Armageddon," the CEO tells GlobeSt.com. "The return in 2005 came after we completed an extraordinary year in performance." Compared to average industry-wide returns in the 8% range, Richards says, "I don't think our shareholders this year are disappointed."

He points to a 2006 increase in net asset value of $29 per share versus $24 in 2005, up 21%. The company's adjusted profit before tax was $185 million, up 5.7% from $176 million in 2005. Profit before tax was $1.56 billion compared to $1.36 billion in the previous fiscal year. Basic earnings per share was $7.02 versus $3.89 a year earlier. Adjusted earnings per share was 64 cents compared to 61 cents previously.