Westfield reaffirms FY guidance

Global operations continue to perform in line with expectations, group says

Westfield Group (WDC) has reaffirmed its full-year net operating income forecast, saying its global operations continue to perform in line with expectations.

In a third-quarter update, Westfield said it is on track to meet earnings forecasts across all regions, in the range of four per cent to 5% in both the United States and United Kingdom portfolios, and 1.5% to 2% in the Australian and New Zealand portfolios.

Westfield reaffirmed full-year 2013 distribution forecasts at 51 cents per security, a three per cent increase from the previous year. 

The group has bought back 150.3 million securities so far this year and recently sold its 16.7 per cent stake in Karrinyup shopping centre in Perth for $123.3 million.