Shopping mall operator Scentre Group reported funds from operations of $556.6 million for the six months to June 30, in line with the full-year guidance.

Income was up 1.5 per cent year on year and 13.3 per cent compared to the second half of 2022.

The group’s net operating income jumped by 10 per cent to $971.9 million, the highest level achieved in a first half period.

Customer visitations were 314 million, up 9.8 per cent compared to the same period in 2022.

The group’s business partners achieved sales of $13.1 billion, an increase of 9.1 per cent year on year and 13.6 per cent compared to the same period in 2019.

“Demand for space in our Westfield destinations continues to be strong with occupancy increasing to 99.0 per cent compared to 98.8 per cent at June 30, 2022. During the half the group completed 1567 leasing deals and welcomed 585 new merchants including 125 new brands to the portfolio,” said Scentre Group CEO Elliott Rusanow.

The group collected $1332 million of gross rent, up $82 million compared to the same period in 2022 and equivalent to 103 per cent of gross billings.

Available liquidity is $3.9 billion, sufficient to cover all debt maturities until the end of 2025.

“Our strategic focus on providing our customers with more reasons to visit our 42 Westfield destinations has delivered strong operating performance and continued growth in earnings and distributions for our security holders,” Rusanow said.

For the full year, Scentre Group expects an increase in funds from operations of 3.4 to 5.9 per cent.