Retail slump saps Vicinity profit by 72%

VICINITY Centres' full-year profit slumped 72 per cent to $346.1 million as the shopping mall owner warned that the outlook for retailers appeared weak.

The owner of 62 shopping centres said total revenue for the 12 months to June 30 dipped 3.6 per cent to $1.28 billion and it lowered its final payout from 8.2 cents to 7.95 cents, unfranked.

"The retail environment is expected to remain challenging in FY20, although economic stimulus including lower interest rates and income tax cuts may benefit retail spending," the company said in a release.


First there was rain, then a clean face

premium_icon First there was rain, then a clean face

After vowing not to shave until it rained, Scott Loughnan is once again sporting a...

Bridging the gap in the Myall Creek path

Bridging the gap in the Myall Creek path

A new bridge near Amos Street is bringing the Myall Creek revitalisation closer to...

Paranormal investigators to delve into the tales of Jimbour House

premium_icon Paranormal investigators to delve into the tales of Jimbour...

A team of paranormal investigators will be leading guests through an investigation...