Westfield’s forgotten NZ unit boosts underlying earnings in 2013

Mon, 23 Jun 2014

By Pam Graham June 24 (BusinessDesk) – The $2.8 billion of local shopping malls owned by Australia’s Westfield Group barely got a mention in the 423-page document for the company’s restructure but accounts filed in New Zealand show earnings of $165.8 million in 2013. The malls which dominate the New Zealand shopping scene were lumped in the Australasian business for the rundown on the restructuring approved by investors in Westfield Retail Trust on Friday. The company’s New Zealand malls at Albany, Glenfield, Manukau, Newmarket, St Luk...

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