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This week in property

Scentre’s sales rise but profits halve Scentre Group, the owner-operator of 42 Westfield shopping centres, has posted a full-year net profit of $1.179 billion, down 48.4 per cent from $2.287 billion a year ago, a figure, however, that was lifted by windfall gains. The company’s funds from operations, the primary earnings metric, came in at $1.344 billion, up 0.4 per cent from $1.3395 billion in 2018. Drilling into the detail of Scentre’s results, the Australian Financial Review said that t