Westfield unveils $US2.3b profit

Offshore shopping mall owner Westfield has reported a full year profit of $US2.3b after a solid lift in specialty store sales.

Westfield Sydney shopping centre.

Westfield Corporation has unveiled a $US2.3 billion ($A3.19 billion) full year profit. (AAP)

Westfield Corporation has unveiled a $US2.3 billion ($A3.19 billion) full year profit on the back of higher sales at its offshore shopping malls.

It was the first full year profit result from the group, which has malls in the US and Britain and was created after it was spun off from Westfield's Australian and New Zealand centres in 2014.

The result for the year to December 31 included asset revaluations of $US632 million and was aided by a 6.4 per cent rise in specialty sales to $US726 million.

Westfield's funds from operations were $783 million, in line with its forecasts. The company expects growth of between three and four per cent in 2016.


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Source: AAP


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