Hammerson sees 7% profit boost - graduate jobs

Graduate positions could soon be appearing at two of the biggest shopping centres in the country after a 7% rise in their half-year profits.

The owner of the Bullring and Brent Cross said that the growth in the market was linked to growing income and lower vacancy levels. In the six months to June 30, shopping centre owner Hammerson said adjusted profits improved to £70.2 million.

The group, which also owns Cabot Circus in Bristol and Reading's Oracle, said at the end of June occupancy increased to 96% with growth in like-for-like rental income at 5%. Demand for office space in central London also reached a three-year high during the first quarter as a more optimistic finance sector took advantage of lower rents and incentive packages.

While the company presently has no active construction sites in the UK, it said it had a substantial pipeline of potential future developments at the planning, legal and design stages in readiness for when market conditions improve. And any future developments could lead to career opportunities for retail graduates or job seekers.

Hammerson's chairman John Nelson added: "Major retailers have a clear preference for stores in robust retail locations. Accordingly we believe our regionally dominant centres will continue to outperform secondary locations."