Shopping centre owner Hammerson has swung to a loss after a year of retail failures put pressure on property values.
The company unveiled full-year results showing a loss before tax of £266.7 million, compared with a profit of £413m in 2017.
The firm owns Silverburn Shopping Centre, Glasgow, Abbotsinch Retail Park, Paisley, Central Retail Park in Falkirk and the Union Square Centre in Aberdeen.
Net rental income declined 6.2 per cent to £347.5m.
David Atkins, chief executive, said: "2018 was a tough year, particularly in the UK. Tenant failures, the structural shift in retail and a more considered consumer created a difficult operating environment, putting pressure on property values."
Hammerson said net rental income had dropped by 1.3% at its UK flagship destinations and by 4.3% at retail parks due to tenant failures and CVAs.
The value of the company's portfolio dropped 5.9% to £9.94 billion.
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Hammerson said its properties have fallen in value by an average of 4% during 2018, including a reduction in UK values of 11%.
The firm expects further weakness in the UK until the outcome of Brexit is determined.
Primark owner Associated British Foods (ABF) has reiterated profit expectations for the full year, despite an anticipated dip in sugar revenue.
The group expects growth across all its businesses except sugar during the first half of the year.
Sales at Primark are projected to be four per cent higher in the first half, but are likely to be down two per cent on a like-for-like basis.
This reflects a 3% dip in like-for-like sales in the Eurozone, in part due to difficult trading in Germany where the chain plans to reduce selling space at some stores.
Meanwhile, the UK has shown improved trading since low footfall weighed on performance in November.
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Like-for-like sales are now expected to be flat on the previous year.
The retailer expects to add several new sites this year, including a new 160,000 square foot space in Birmingham which will be its largest store.
Daily Mirror publisher Reach has swung to a full year loss after being stung by hefty pension and impairment charges.
The company posted a statutory pre-tax loss of £119.9 million in 2018, which compares with a profit of £81.9m the previous year.
Reach said its figures were dragged down by a non-cash impairment charge of £200m against the carrying value of goodwill, publishing rights and titles and freehold properties.
"This reflects the more-challenging-than-expected trading environment for advertising revenue generated locally and the short-term uncertainty arising from the UK's exit from the European Union," the firm said.
Print advertising revenue fell by 0.5 per cent and on a like-for-like basis dropped 16%.
Reach also took a £15.8m hit relating to the recent Guaranteed Minimum Pension ruling, which requires firms to equalise pension payments for men and women.
Revenue increased by 16.2% to £723.9m in 2018, reflecting the acquisition of the Daily Express and other associates titles. But, on a like-for-like basis, sales fell by 6.6%.
However, on an adjusted basis, operating profit increased by 16.8% to £145.6m, ahead of market expectations.
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