Business
Scentre Group: Westfield owner’s $3b loss sparked by COVID-19 – NEWS.com.au
Scentre Group: Westfield owner’s $3b loss sparked by COVID-19
The owner of Westfield shopping centres in Australia has incurred a major financial blow, with the economic downturn induced by the coronavirus pandemic taking a swipe at its profits by more than $3 billion. Releasing its half-year results on Tuesday, shopping centre giant Scentre Group said its interim profit had plummeted due to the impacts of COVID-19 denting the value of its property assets by $4.1 billion.
For the six months ending June 30, the company posted a statutory loss of $3.6 billi…
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