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.


Severe storm warning for Quilpie, Blackall, and St George

Severe storm warning for Quilpie, Blackall, and St George

A severe thunderstorm warning has been issued in the west.

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premium_icon Brawling brothers banned from bars

"This is a criminal charge where prison is considered..."

Teen's leg amputated to save life after farming horror

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“I didn’t want to believe it, so I just kept fighting and fighting."