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Steven Deare

EXPLAINED: Scentre fy profit falls but income improves - The Real Truth

Scentre Scentre Group Westfield

A major decrease in property valuations is behind a 41 per cent drop in Scentre's full year profit. (Paul Braven/AAP PHOTOS)

Westfield owner Scentre Group has claimed improved full-year earnings and says shopping centre redevelopments in Adelaide, Brisbane and Sydney provide more opportunity for growth.

Scentre on Wednesday posted a 5.2 per cent improvement in funds from operations to $1.09 billion for the 12 months to December 31.

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