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twitterRetail operator’s profit soars
Friday, May 3, 2002 | 11:04 a.m.
CHICAGO -- General Growth Properties Inc.'s first-quarter profit rose 52 percent as the second-largest U.S. shopping-mall owner expanded the amount of space it owns or manages and benefited from lower interest rates.
General Growth owns Boulevard and Meadows malls in Las Vegas.
Net income at the Chicago-based real estate investment trust rose to $31.4 million, or 51 cents a share, from $20.6 million, or 39 cents, a year earlier. Revenue rose 7 percent to $290.8 million from $272 million, the company said.
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