URW – Unibail-Rodamco-Westfield
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Stockhead: Unibail Rodamco Westfield (ASX:URW) reported strong operating performance for the full year FY23, with tenant sales up +6.4%, above core inflation, and footfall up +4.9% on pcp. The company reported €1.63b in full year net loss from a €178k net profit a year ago. The company said it was a challenging investment environment, but it still managed to secure 11 transactions totalling €1 billion. Total disposals since 2021 have contributed €5.1 billion to its net debt reduction, and the company said it remains committed to further deleveraging. URW proposed to pay a €2.50 cash distribution, pending shareholder approval at the AGM in April.