Hammerson hits pause on share buyback programme

Hammerson announced on Wednesday that its share buyback programme would be paused, prior to publication of its results for the year ending 31 December, during the closed period.

The FTSE 250 company said that, as part of its reshaped strategy announced on 24 July, up to £300m of share buybacks was targeted over the 12 month period to July 2019.

As at 31 December, a total of £129m - or 43% - of the target had been executed.

“The company confirms that its financial performance for the year ending 31 December 2018 is anticipated to be in line with market expectations and it will provide an update on capital allocation as part of the full year results in February,” the board said in its short statement.