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.
Recommended for you
AFCA has confirmed United Global Capital’s membership of the body will not be extended to accept further complaints, avoiding a repeat of the Dixon Advisory scenario.
Three of Australia’s largest financial advice groups have shared their thoughts with Money Management on whether they would include crypto on their approved product lists.
Shadow treasurer Angus Taylor has vowed to introduce a bill to legislate a raft of financial services reforms if the Coalition is elected.
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
