Arab Today, arab today mall giant westfield posts 23bn profit on us britain centres
Last Updated : GMT 06:18:32
Arab Today, arab today
Arab Today, arab today

Mall giant Westfield posts $2.3bn profit on US, Britain centres

Arab Today, arab today

Arab Today, arab today Mall giant Westfield posts $2.3bn profit on US, Britain centres

Australian-listed Westfield is one of the world's leading shopping centre
Sydney - AFP

Shopping centre giant Westfield on Wednesday recorded a US$2.3 billion net profit supported by healthy income growth for its US and British assets, as it flagged an August opening for its fully leased World Trade Center development.

The Australian-listed company is reporting its first full-year result for the 12 months to December 31, 2015 since spinning off its Australian and New Zealand business into a separate entity the year before.

Westfield said it had made "significant progress" on a multi-billion dollar redevelopment programme, and recorded comparable net operating income growth of 4.2 percent for its flagship stores, which make up 82 percent of its assets.

It posted net operating income growth of 2.7 percent for the regional assets.

"Our US$10.5 billion development programme... is expected to create significant long-term value and earnings accretion," Westfield's co-chief executives Peter Lowy and Steven Lowy said in a statement.

"Our financial position is strong with balance sheet assets of US$20.0 billion."

Westfield -- one of the world's leading shopping centre operators -- said its US$1.4 billion World Trade Center development in New York was fully leased, with more than 100 retailers including flagship stores for Apple and Eataly, and is scheduled to open in August.

It was also making progress on developments and redevelopments in other US cities and in Britain.

Shares in Westfield slipped 0.41 percent to Aus$9.67 at midday in Sydney.

The spin-off entity Scentre, which manages the Australian and New Zealand business and had merged with Westfield Retail Trust, Tuesday reported net profit of Aus$2.71 billion (US$1.96 billion) in the 12 months to December 31, 2015.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mall giant westfield posts 23bn profit on us britain centres Arab Today, arab today mall giant westfield posts 23bn profit on us britain centres

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today mall giant westfield posts 23bn profit on us britain centres Arab Today, arab today mall giant westfield posts 23bn profit on us britain centres

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday