Westfield 1H16 Earnings Result

Westfield (WFD.ASX) reported 1H16 earnings of $715m at the EBIT line and FFO of $342m or $0.165 cents per share.  FY16 guidance remains around $0.34 cps

WFD trades on a high multiple and a forward yield into FY17 of 3.4%. For this reason, we see the stock fully valued but attractive due to it’s high quality asset base and $7b+ development pipeline.

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Author: Leon Hinde

Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.

PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:

· Deposit Products
· Securities
· Derivatives
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks