Shopping centre owner and operator Westfield Group has reconfirmed its earnings and distribution guidance for the full year, saying its Australian business had helped to offset challenging conditions in the UK, US and New Zealand.
'Overall the performance of the first quarter remains broadly consistent with our expectations,' Westfield group managing director Steven Lowy said during an analyst teleconference for its first quarter review on Thursday.
"Accordingly, we reconfirm our guidance in early February of 2009 of operational earnings and distribution in the range of 94 to 97 cents per security."
Lowy said Westfield's shopping centres in Australia, which provided 45% of the group's income, continued to be resilient.
The Age, The Australian