MCW announcement appears positive. Debt reduction is accomplished. Out of US assets. Will remain invested in Oz and NZ grocery assets. Financial statements on 21 Aug.
interested in views of others.
Macquarie CountryWide Trust’s Chief Executive Officer, Mr Steven Sewell said: “Over the last 18 months, the Trust has completed or contracted to sell A$2.33 billion of assets from the portfolio. On completion of these sales, the Trust will repay or eliminate A$1.8 billion of property-level debt. Our aim going forward is to deliver consistent and sustainable long-term growth for investors from our portfolio of quality grocery-anchored shopping centre properties owned predominantly in Australia and New Zealand,” Mr Sewell said. The Trust is currently finalising its financial statements for the year ended 30 June 2009, and full year results are expected to be announced on 21 August 2009.
MCW Price at posting:
49.5¢ Sentiment: Hold Disclosure: Held
