Retail slump saps Vicinity profit by 72%

VICINITY Centres' full-year profit slumped 72 per cent to $346.1 million as the shopping mall owner warned that the outlook for retailers appeared weak.

The owner of 62 shopping centres said total revenue for the 12 months to June 30 dipped 3.6 per cent to $1.28 billion and it lowered its final payout from 8.2 cents to 7.95 cents, unfranked.

"The retail environment is expected to remain challenging in FY20, although economic stimulus including lower interest rates and income tax cuts may benefit retail spending," the company said in a release.


A White Christmas Gala Ball is coming to Emerald

A White Christmas Gala Ball is coming to Emerald

Gala event has already raised $15,000 for a Central Highlands organisation.

O’Dowd spends more than $180K in three months

premium_icon O’Dowd spends more than $180K in three months

From July 1 to September 30, Ken O'Dowd MP spent more than $180,000.

Students’ close shave with the law

premium_icon Students’ close shave with the law

Adopt-a-Cop braves the clippers after students help him raise funds for...