The owner of one of Australia's largest shopping centre chains is enjoying rising customer numbers and profits, despite the national cost-of-living crisis.
Scentre Group, which owns and operates 42 Westfield locations in Australia and New Zealand, said 320 million customers had visited the centres in 2024 through to August 18, up 1.9 million from the same time in 2023.
"This has provided our business partners with the opportunity to increase their sales through our Westfield destinations," CEO Elliott Rusanow said on Wednesday.
Sales increased by 2.4 per cent to $13.4 billion in the six months to 30 June, and were up 2.9 per cent to a record $28.6 billion in the year to June 30.
Scentre Group said its statutory profit after tax was up 170.3 per cent to $403.9 million, including an unrealised property value decrease of $120 million.
Net operating income, the industry's preferred metric, was up 3.5 per cent to $1 billion.
The group announced a distribution of 8.6 cents per security, up 4.2 per cent from the same time last year.
Occupancy rates across all Westfield shopping centres have finally recovered to pre-pandemic levels, climbing to 99.3 per cent from 99.0 per cent in 2023.
Mr Rusanow said Scentre remained committed to helping the families of victims of the April 13 stabbing attack at Westfield Bondi Junction, where five women and one man were killed by 40-year-old Joel Cauchi.
"We continue to provide support, both financial and non-financial, to the victims' families as well as the victims injured during this attack," Mr Rusanow said.
On Wednesday afternoon, Scentre Group stapled securities were down almost one per cent to $3.375, but up about 12 per cent for the year.
