Westfield H1 Net Profit Drops 36%

Westfield Group

reported a 36% drop in its first-half net profit. Westfield's net profit for the six months declined to 514.8 million Australian dollars (US$460.3 million), versus A$800.1 million, in the year-ago period. Its funds from operations climbed 3% to A$729 million. Westfield shares closed at $19.89 yesterday.