Westfield Group (WFGPY.PK) Q2 2012 (H1 2012) Earnings Call August 14, 2012 7:00 pm ET Executives 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 Analysts 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 PresentationOperator
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.