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.


Council provide dam updates after weekend downpour

premium_icon Council provide dam updates after weekend downpour

Southern Downs Regional Council provide updates on dam levels.

NAMED: More than 60 people to appear in Stanthorpe Court

premium_icon NAMED: More than 60 people to appear in Stanthorpe Court

More than 60 people are set to appear in Stanthorpe Magistrates Court this week.

30-year water plan promised

premium_icon 30-year water plan promised

Frecklington promises a 30-year water security plan.