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