Centro sustains strong growth
Andrew Scott
The Centro Properties Group (Centro) has recorded strong growth for its Australian managed portfolio, delivering 4.8 per cent for the March quarter.
Centro chief executive officer, Andrew Scott, said the growth adds to the group’s moving annual turnover (MAT) growth at Centro managed centres of 3.9 per cent with sales of 9.7 billion for the year ending March 31, 2007.
“The continuing strong 4.8 per cent growth for the March quarter appears to be driven by favourable economic conditions, record high employment and resources-led growth, particularly in Western Australia. The post-Christmas trading period has been very good in Centro centres, particularly for non-discretionary retail sales,” Scott said.
“Centro’s speciality and mini majors sales categories, which recorded MAT growth of 7.2 per cent and 8.3 per cent respectively, are driven by strong performance of the fresh food and homeware sectors,” he added.
Centro has a market capitalisation of $8 billion and funds under management of $26 billion.
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