Westfield Group (WFGPY.PK)
Q2 2012 (H1 2012) Earnings Call
August 14, 2012 7:00 pm ET
Peter S. Lowy - Co-Chief Executive Officer and Executive Director
Steven Mark Lowy - Co-Chief Executive Officer and Executive Director
Peter Kenneth Allen - Group Chief Financial Officer and Director
Stephen Rich - Crédit Suisse AG, Research Division
Paul Checchin - Macquarie Research
Lourens Pirenc - Morgan Stanley, Research Division
Rob Stanton - JP Morgan Chase & Co, Research Division
John P. Kim - CLSA Asia-Pacific Markets, Research Division
Simon Garing - BofA Merrill Lynch, Research Division
Andrew Smith - Evergreen Capital Partners Pty Ltd.
Simon Wheatley - Goldman Sachs & Partners Australia Pty Ltd, Research Division
Welcome to the Westfield Group 2012 Half Year Results, connected on Wednesday, 15 August 2012 at 9 a.m. Australian Eastern Standard Time [Operator Instructions] I would like to advise that today's conference is being recorded and would now like to introduce the presenter for today, Mr. Peter Lowy. Mr. Lowy, please go ahead.
Peter S. Lowy
Thank you. Good morning, everybody. I'd like to welcome you to our results presentation for the 6 months ended 30th of June, 2012. With me today is Steven Lowy and Peter Allen. In November 2010, we articulated a strategic plan that would position the group to generate greater long-term value in a volatile economic environment. This plan focused on investing capital in a development of world-class iconic shopping centers in major world cities, introducing joint venture capital to the group and disposing of non-core assets to enhance our return on invested capital and long-term earnings growth.