Westfield Group
(ASX:WDC) has reported a net profit of $1.72 billion for its 2012 financial year, an 18 per cent increase on the year before.
Co-CEO’s Peter and Steven Lowy say the performance has been very good for the year and in line with expectations.
The joint chiefs say their 2012 was a significant year for the Westfield Group as it continued to position itself to generate greater security holder value.
The group intends to improve the quality of its portfolio through its $12 billion development pipeline together with acquisition opportunities in existing and new markets.
The retail conglomerate will pay shareholders a final dividend of 49.5 cents.
