Westfield up ahead of earnings report

The company's shares are back above the $11 mark – but what should investors expect from the report?

Ryan Newman (TMFNewmy)

Ryan Newman (CFA) is the Director of Research of The Motley Fool Australia, and Portfolio Manager for the Pro and North Star services. Ryan’s interest in investing and stocks began at a young. His journey with The Motley Fool started first as a member but when the company first came to Australia he joined the team as one of our writers. Recognising his investing talent and passion, it wasn’t long before he was approached to join the investing team as a research analyst on Pro. Ryan is passionate about learning and continual development. He earned his Chartered Financial Analyst (CFA) designation in 2022, and has completed his Bachelor of Accounting and his Graduate Certificate of Corporate Finance. Ryan loves spending time with his young family as well as non-fiction reading, catching the latest movies and following his sports team, the St Kilda Saints (AFL).

Published August 28, 2013 1:50 pm AEST

Shares in Westfield Group (ASX: WDC) have gained 1.1% today and are back above the $11 mark ahead of the release of the property developer's half-year results tomorrow.

Westfield's shares have fallen over 12% since hitting a high of $12.55 in May. Consumer confidence and spending levels remain low and other property groups have delivered less than impressive earnings reports in recent weeks.

For instance, GPT Group (ASX: GPT) announced net profit after tax (NPAT) of $257 million for the six months ending 30 June, which was down 6.7% compared to the previous corresponding period. Diversified property group Stockland (ASX: SGP) also delivered a 79% fall in statutory profit for the year.

Soft property conditions and economic uncertainty are likely to weigh on Westfield's results, but the market will also be keen to learn the progress being made on redevelopment and expansion projects. Furthermore, investors will also be looking for confidence from Westfield regarding its economic outlook, considering the group has continued to increase shareholder returns. The company recently announced an estimated interim dividend distribution of 25.5c per share.

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Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned in this article.

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