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.


Review requested for risky roads

Review requested for risky roads

There are calls for a safety review of the busy highway

Bikeway to bridge regional communities

Bikeway to bridge regional communities

The upgrade is estimated to cost up to $7 million

Council to host drought forum for Lockyer livestock farmers

Council to host drought forum for Lockyer livestock farmers

The forum will be held next month