Federation Centres: Result 2015

Federation Centres reported its first result after recently merging with Novion Property Group.

Despite losing his job to Federation Centres counterpart Steven Sewell upon its merger with the much-larger Novion Property Group, former Novion chief executive Angus McNaughton delivered the merged group’s result yesterday.

This is due to the shock firing of Sewell recently (see Federation board fires CEO). McNaughton appears to have the backing of largest shareholder John Gandel and so we’re not too concerned about the sudden change in CEO.

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