BusinessFebruary 5, 2001
MEMO: WESTFIELD EARNINGS GROW IN FOURTH QUARTER
Westfield America Inc., which operates a number of shopping centers, including Westfield Shoppingtown West Park in Cape Girardeau, has announced increased earnings for the fourth quarter and year. Funds From Operations (FFO) was $42.8 million, or 49 cents per share in the fourth quarter, up from $49.7 million a year ago...
Westfield America Inc., which operates a number of shopping centers, including Westfield Shoppingtown West Park in Cape Girardeau, has announced increased earnings for the fourth quarter and year.
Funds From Operations (FFO) was $42.8 million, or 49 cents per share in the fourth quarter, up from $49.7 million a year ago.
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FFO was $195.2 million, or $1.83 per share for the year ended Dec. 31, 2000, up from the $177 million or $1.73 per share for the same period a year ago.
Westfield Inc. Leases a total of 1,566,997 square feet.
Westfield launched a $232 million redevelopment at West County in St. Louis last summer. The new mall will re-emerge as a 1.2 million-square-foot shopping center in the fall of 2002. A $54 million redevelopment of the South County mall in St. Louis is expected to be completed this fall.
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