Westfield shopping centre owner Scentre’s NZ revenues up

Scentre has the controlling stake in five malls across New Zealand. (Image: Supplied)

Wed, 21 Aug 2024

Scentre Group's revenue has risen across its five shopping centres in New Zealand despite the value of its equity falling marginally.The group, which owns 51% of the Westfield shopping centres in Albany, Manukau, Newmarket, Riccarton and St Lukes, declared earnings for the six months to June 30 on the Australian Securities Exchange (ASX) on Tuesday.Total revenue – property and development revenues as well as management income – were up nearly 10% to A$91.3 million (NZ$100.1m).Net property income, which subtracts expenses from pr...

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