Westfield has reported flat sales despite a two million jump in visitor numbers at its London shopping centres in 2017.
Westfield London in White City recorded an annual 2017 footfall of 27.5 million visitors and sales of £1.01bn. Westfield Stratford City achieved footfall of 49.5 million and sales of £1.2bn during the period.
The combined total of 77 million customer visits and sales of £2.21bn compares to combined sales of £2.2bn in 2016 on the back of 75 million customer visits.
Westfield said “good progress” was being made on its projects currently under construction, which includes the £600m expansion of Westfield London.
The group also has $6.1bn of future retail development projects planned, including Croydon in South London and Westfield Milan.
In December Westfield was sold to French property organisation Unibail-Rodamco in a $25bn (£18.7bn) deal.
Westfield corporation Co-CEOs Peter and Steven Lowy said: “2017 was a significant year for Westfield with the announcement in December of the proposal to combine Westfield with Unibail-Rodamco to create the world’s best retail real estate platform.
“The performance of Westfield for the year was solid and we remain confident with the strategy of developing and transforming flagship assets.
“We are creating great experiences for retailers, consumers and brands and continue to benefit from the addition of food, leisure and entertainment and a broader mix of uses including many new concepts, emerging technologies and online brands.”