REPORTING SEASON: Westfield Corporation (WFD)
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Figure 1: Westfield Corporation 12 month chart
Westfield Corporation delivers inaugural interim result
Westfield Corporation (WFD) resulted from a restructure which saw the Westfield Group separate the UK and US assets from the Australian and New Zealand properties which formed Scentre Group.
WFD reported Funds From Operations (FFO) for the six months ended 31 December 2014 of $391 million which was in line with forecasts and represented 18.8 cents per security.
On a comparable net operating basis, combined income for WFD’s U.S and U.K. malls increased by 5.3% during the year, while specialty store sales rose by 3.9%.
WFD expects to achieve FFO for the 2015 year of 37.7 cents per security, with the full year distribution to shareholders forecast to be 25.1cents per security.
The newly formed group declared a distribution for the six month period of 12.3 US cents per security, which was also in-line with expectations.
The payment date for the dividend is 27 February 2015, with an ex-dividend date of 11 February 2015.