- In its latest half-year results, Scentre Group (SCG) has swung into the red and recorded a slump in revenue
- The retail realtor saw its revenue drop to $1.09 billion come June 30 — a 16 per cent decrease compared to the same time last year
- While the group still managed to bring in over $1 billion in revenue, its profit margins have been heavily impacted
- In Scentre’s 2019 interim report, the company tabled $740 million in profit
- The wild swing is primarily caused by COVID-19’s grip on the retail market, with many retailers forced to shut up shop for a season due to the pandemic
- Scentre shares are up 4.7 per cent, trading for $2.12 per share
