Hammerson records lost $ 2.4 billion by 2020
The UK-based retailer said on Friday its revenues had fallen by almost half and had so far reached 76% of last year’s bills when traders were hit with the COVID-19 disease.
BENGALURU: Hammerson lost £ 1.7bn ($ 2.4bn) in 2020 when the price of the store fell in the heart of the store, prompting him to sell properties and become aware of long-term debt term.
A UK retailer said on Friday that its profits had halved and now reached 76% of last year’s profits when investors were hit by the COVID-19 disease.
However, Hammerson’s stock rose 5.7% at 8:30 a.m. GMT after raising $ 73 billion by selling Brent South’s small ships and lumber to two French joint ventures.
Although has said he will perform his duties over the next 12 months, he also warned of the effects of the coronavirus on the retail industry and the economy in general.
“Unsuccessful results of the status quo may lead to violations of the group’s credit rating and profit rights,” the company said in a statement.
Hammerson’s combined score, which indicates the company’s odds of paying off 100 (unexpected) debts to 1 (likely) next year, have been 4 since Friday, Refinitiv said, Eikon said.
The company, with a net worth of $ 1.32 billion, said it has reduced its net debt from £ 609 million to $ 2.23 billion.
UK retail stores will all be operational by mid-May, in line with a move away from restrictions that keep shoppers home and delay purchases.
Hammerson’s hopes of reclaiming the store will slow the UK public economy as it grapples with over-the-counter and overpriced goods, even in the event of an outbreak.
“2021 policy (on): Preparations are needed to reduce LTV (total loans) by 46%,” wrote researcher JP Horgan in a letter following Hammerson’s findings.
Accidents turned out to be the last weed of the person who made you your enemy last year, grown.
Hammerson’s total assets, including high-end stores, fell 24% to £ 6.34 billion by 2020.