By  on February 28, 2008

The weakening real estate market took a toll on Westfield Group, which saw revenues and profits fall last year, though the developer said it was planning a number of new projects across the U.S.

Net profits plummeted 38.4 percent to 3.44 billion Australian dollars, or $2.88 billion, as revenues dropped 27.6 percent to 6.66 billion Australian dollars, or $5.59 billion. Dollar figures are at the average exchange rate.

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