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.


How your school performed in NAPLAN over five years

premium_icon How your school performed in NAPLAN over five years

SEARCH YOUR SCHOOL: To find out how it performed in NAPLAN.

Young man dies in highway truck rollover

premium_icon Young man dies in highway truck rollover

One man has died in a trucking accident on a western QLD highway.

TRIBUTE: Community remembers Bec and her love for Biloela

premium_icon TRIBUTE: Community remembers Bec and her love for Biloela

Biloela says goodbye to active and always helpful member of the community