great results from no 1 aust tenant of cer

Great results from Woolworths.

WOW contributed 11.9% of Australian ABR (pg 22 presentation)

Major tenants in Australia provide turnover rent unlike in the US.

WOW's increased sales will result in a favourable movement in CER's NOI.

Cheers





SYDNEY, July 22 AAP - Supermarket giant Woolworths Ltd has
reported "solid" growth in full year sales, up 7.5 per cent in
2008/09, highlighting what the company said was "the underlying
strength of the Australian economy in these times".
Full year sales were $49.595 billion in the year ended June 30,
up $3.4 billion, or 7.5 per cent, on the previous year on a 52 week
normalised basis.
"Despite the global economic turmoil, 2009 has been a successful
year with solid results across our business overall," chief
executive Michael Luscombe said in a statement on Wednesday.
"Continued solid sales growth in food retailing and especially
in discretionary areas like apparel, consumer electronics and
homewares, highlights the underlying strength of the Australian
economy in these times."
MORE lxs/pe