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.


‘No remorse’: Survivor advocate says justice served

premium_icon ‘No remorse’: Survivor advocate says justice served

A Noosa councillor’s defence team will look into legal ‘pathways’.

Dad's quick thinking saves potential bushfire catastrophe

premium_icon Dad's quick thinking saves potential bushfire catastrophe

The Peregian dad woke to flames in bushland right near his house.

Insurance price hikes on the way

premium_icon Insurance price hikes on the way

$600 million lost in Queensland's recent weather events