The Scentre Group (ASX:SCG) reports $3.6 billion loss

Company News

by Rachael Jones

The Scentre Group (ASX:SCG) reports a loss of $3.6 billion for the six month period to 30th June.

The company that owns Westfield shopping centres here in Australia reported a reduction in property valuations of $4.1 billion.

Scentre Group CEO Peter Allen says: “Our results, including the ability to generate an operating cash surplus, demonstrate the long-term resilience of our business.”

Shares in the Scentre Group (ASX:SCG) are trading 5.9 per cent higher at $2.14.