Westfield operator Scentre Group recorded higher net operating income on the back of more customer visits last year.
The company’s net operating income grew 4 per cent to $2.03 billion while funds from operations (FFO) rose 3.5 per cent to $1.13 billion.
Annual customer visits increased 2.8 per cent to 526 million while business partner sales totalled $544 million, up 1.9 per cent.
Scentre Group attributed the higher customer visits to its customer activation program, which includes strategic partnerships with Disney, Live Nation and the Australian and New Zealand Olympic and Paralympic Teams for the Paris 2024 Olympic and Paralympic Games.
Centre occupancy climbed 40 basis points to 99.6 per cent.
The company said it continues progressing its $4 billion pipeline of future development opportunities and is also focused on repurposing space.
“Our strategy to attract more people to our destinations and unlock growth opportunities is expected to continue to deliver growth in earnings and distributions,” said Elliott Rusanow, Scentre Group CEO.
