Westfield Group has delivered a small increase in its first half profit. Earnings for the Australian shopping centre operator rose 7.4 per cent to $844 million. The result was bolstered by high occupancy in its global portfolio. Just last month Westfield completed a $3 billion capital raising, which it's set aside for new and existing shopping centre developments around the world. Westfield Group produced record earnings in 2006.
APA Group has posted a modest increase in its full year profit. Australia's biggest natural gas pipeline investor says earnings rose 6 per cent to $64.5M, slightly above what analysts were expecting. APA, formerly known as Australian Pipeline Trust, is 35 per cent owned by energy infrastructure group Alinta. APA owns more than 10,000 km of gas transmission pipelines and has a 40 per cent share of the country's natural gas transportation market. APA Group experienced its earnings highlight in 2004.
And Coates Hire says it's still up for sale despite recently rejecting a takeover proposal. Bidders for the equipment hire company included private equity firm Carlyle Group and National Hire Group. Coates Hire put itself up for sale following weaker-than-expected half year earnings. Coates Hires out everything from portable toilets to generators to the building, mining, power, oil and gas industries. Coates Hire's earnings have been increasing over the last four financial years.
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