Westfield: Interim result 2013

Westfield’s interim result was ok but, as Nathan Bell explains, management’s attempts to boost profits and return on equity face headwinds in Australia.

Following criticism from investors after the GFC, Westfield Group embarked on a strategy to significantly increase its return on equity. For a mature, large and highly capital-intensive business like Westfield, slower economic growth, cautious consumers and more money being spent online means that’s going to take time.

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