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Scentre outpaces inflation as shoppers return

Nick Lenaghan

Westfield operator Scentre has outshone expectations in its 2022 interim earnings as property income from its $34 billion mall portfolio gets back on track sooner than expected and shoppers return in stronger numbers.

The upbeat result, which sent its stock flying 2.7 per cent, or 7.5¢ higher to $2.86, was a fitting swansong for long-serving chief executive Peter Allen, who delivered his final earnings call on Wednesday. Chief financial officer Elliott Rusanow takes over the role on October 1.

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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com

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    Original URL: https://www.afr.com/property/commercial/scentre-outpaces-inflation-as-shoppers-return-20220823-p5bbze