27 Feb 2013

Shopping centre profit up

1:34 pm on 27 February 2013

Full year net profit at Westfield, the world's biggest shopping centre operator, rose by more than 18% to $A1.72 billion.

Despite subdued retail conditions for most of the year, the company said its Australian shopping centres performed well.

The ABC reports the company has assets valued at $A64.4 billion and has $A12 billion worth of work in development, including new centres in Milan and Croydon, London, as well as a range of redevelopments.

Westfield's business portfolio includes 105 shopping centres in five countries, containing almost 23,000 shops with 1.1 billion customer visits annually.

Investors will receive a full-year dividend of 49.5 cents per share.