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Hammerson Posts $185M Profit for 2006

LONDON-The investor-developer of shopping centers, retail parks and office sites delivers a 25.3% return to shareholders and forecasts a similar performance in 2007.

By Alex Finkelstein | Updated on March 01, 2007

(To read more on the debt and equity markets, click here.)

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.”

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