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westfield results

  1. 330 Posts.
    SHARES in Westfield Group have slumped 2.7 per cent in morning trading, shedding 46 cents to $17.21, after the shopping centre giant reported a 38 per cent fall in its bottom-line net profit to $3.44 billion, down from $5.58 billion in the previous year.

    The result included property revaluations of $2.1 billion, including $1 billion from existing shopping centres.

    Operating earnings, which excludes the impact of property revaluations, totalled $1.79 billion for calendar 2007.

    Westfield (wdc.ASX:Quote,News) has reported a 11.6 per cent rise in operating earnings and says it expects to deliver similar growth in 2008.

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