Business
Operational and Rent Collection Update
Operational and Rent Collection Update.
About this update from Hammerson Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5915P\n Hammerson PLC\n 20 October 2021\n \n \n \n \n 20 October 2021\n \n \n \n \n \n Significant improvement in collection rates\n \n \n Since our half year results on 5 August, occupiers have been able to operate in all territories with minimal COVID-related restrictions.1\n \n \n Overall, footfall in all territories now stands at c.15-20% below 2019 levels, although some centres in the UK exceeded 2019 comparable levels around the key August bank holiday weekend and have continued to perform strongly since. The trend of high conversion rates and larger basket sizes has continued, with UK sales in our destinations in line with 2019 in August and September, and around \n 4% lower in France. \n \n \n Rent collection rates have improved with 70% of group billable rent collected for Q4 to date, significantly ahead of any quarter since Q1 2020 at the same point in time2. As with Q3, the UK continues to be the strongest performer, with 74% of rent collected, Ireland stands at 71%, with France at 65%.\n \n \n FY 2020 collections now stand at 94% and FY 2021 YTD at 78%.\n \n \n We remain focused on collecting arrears. We do not anticipate granting future concessions and all avenues to collect rents due are being pursued. \n \n \n \n \n \n Period\n \n \n \n \n Total Demanded (£m)3\n \n \n \n \n Total Waived, Written Off and Not Yet Due\n \n \n (£m)\n \n \n \n \n Total Due\n \n \n (£m)\n \n \n \n \n Total Collected\n \n \n (£m)\n \n \n \n \n Total Outstanding\n \n \n (£m)\n \n \n \n \n Collected of due %\n \n \n \n \n \n \n FY 2020\n \n \n \n \n 254\n \n \n \n \n 30\n \n \n \n \n 224\n \n \n \n \n 210\n \n \n \n \n 14\n \n \n \n \n 94\n \n \n \n \n \n \n H1 21\n \n \n \n \n 114\n \n \n \n \n 16\n \n \n \n \n 98\n \n \n \n \n 77\n \n \n \n \n 21\n \n \n \n \n 79\n \n \n \n \n \n \n Q3 21\n \n \n \n \n 50\n \n \n \n \n 1\n \n \n \n \n 49\n \n \n \n \n 40\n \n \n \n \n 9\n \n \n \n \n 82\n \n \n \n \n \n \n Q4 21\n \n \n \n \n 41\n \n \n \n \n 3\n \n \n \n \n 38\n \n \n \n \n 27\n \n \n \n \n 11\n \n \n \n \n 70\n \n \n \n \n \n \n FY 2021 YTD\n \n \n \n \n 205\n \n \n \n \n 20\n \n \n \n \n 185\n \n \n \n \n 144\n \n \n \n \n 41\n \n \n \n \n 78\n \n \n \n \n \n \n \n \n 1 \n The sanitary pass scheme in France impacted footfall and sales through part of August...