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Scentre Group defies retail gloom

Scentre Group, the owner-manager of most of Australia’s Westfield shopping centres, has announced results for the half-year ended June 30, with funds from operations coming in at $676.2 million. On a per-security basis, FFO was 12.76¢, up 3 per cent. Distribution was 11.3¢, up 2 per cent, and both were in line with expectations. CEO Peter Allen said that the group was pleased with the results, which demonstrated “the long-term growth and sustainability of the business”. He said total sal