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The Guardian: "Hammerson gains ground after update but FTSE 100 slumps 1.5% on Spanish and Greek fears"

"As leading shares slump more than 1.5% on growing fears about Spain and Greece, the one exception is property group Hammerson.

"The company, which is transforming itself into a focused retail business with the sale of its office portfolio, said its net rental income rose 2.4% in the first half to £14.16m, and its net asset value a share increased 0.9% to 535p.

"It has sold 75% of its London office assets for £518m in one deal, and is making an additional £100m investment in designer outlets. Chief executive David Atkins said:
"We have created a focused retail business by accelerating our plans to sell the London office assets through a single transformational deal. We expect to deliver further growth to shareholders by building scale in our chosen retail sectors through extensions, developments and acquisitions."

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