Blue Chip Profits News: Westfield Group (WDC)
Westfield Group (ASX:WDC) is the largest retail property group in the world by equity market capitalisation. It has investment interests in 126 shopping centres in Australia, New Zealand and the United States
Westfield, which is among the blue chip stocks, revealed a full year 2011 profit of $1.53 billion, a 37.5% rise on the previous corresponding period, slightly ahead of analyst expectations.
Full year revenue climbed 10.5% to $1.46 billion, year on year.
WDC declared a final distribution of 24.2 cents, in line with expectations.
The group also announced it would start an on-market buyback of securities for up to 10% of its issued capital.