Scentre Group flags higher costs post-Bondi Westfield attack
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The news: Westfield-owner Scentre Group has flagged higher operating costs following the attack at Westfield Bondi last month but is sticking to its full-year earnings guidance.
The numbers: The shopping centre owner said total customer visitor numbers for the 18 weeks to 5 May across its 42 Westfield centres increased by 2.8 million to 175 million.
Store sales rose 2.4% in the quarter to $6.5 billion, while portfolio occupancy was at 99.2% as at 30 April.
Scentre's share price fell 0.16% to $3.22 in early trading on the ASX.
The context: The group said it expected rising operating costs as a result of the stabbing attack at Westfield Bondi on 13 April that resulted in six deaths.
Despite this, the group has kept its full year guidance for operating earnings to be in the range of 21.75 cents to 22.25 cents a share.
What they said: “Our decision to increase security across the portfolio and provide financial support to our business partners following the tragedy at Westfield Bondi will result in an increase in operating expenses in 2024,” chief executive Elliot Rusanow said in a statement.
The source: ASX announcement
