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Westfield Group (ASX:WDC) expects earnings to increase for the full year thanks to better than expected US retail sales and steady conditions in Australia and the UK.
Westfield’s chief, Frank Lowy said yesterday, ''Westfield's business model is designed to work through all economic cycles.”
In the group’s quarterly report to March this year, it maintained rental growth of about 3.1 per cent. Wesfield said it had signed 1100 leases with over half to new retailers over the quarter.
In the 2011 financial year Westfield Group reported a net profit of $1.5 billion.
