Unibail turnover up 70.2 per cent after Westfield acquisition

Company News

by Katrina Bullock

Shopping centre developer and operator, Unibail-Rodamco-Westfield (ASX:URW) has released its results for the quarter ending 31 March 2019.

The proportionate turnover was 939.6 million Euros, up 70.2 per cent, predominately due to the acquisition of Westfield Corporation.

Proportionate gross rental income from the shopping centre division was 673.9 million Euros, an increase of 73 per cent.

Gross rental income in France, Central Europe and Austria was strong with growth of 3.7, 3.6 and 3.2 per cent respectively.

Shares in Unibail-Rodamco-Westfield (ASX:URW) closed 2.05 per cent lower at $11.95 on Wednesday

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.