Westfield Group, one of the world's largest and top ranked mall owners, has posted a successful third-quarter report on the back of growing retail sales across Australia. In addition, the firm has revealed that markets all over the US and UK are "stabilizing" and will soon be as profitable as the Australian market.

For the July-September period for the current year, Westfield posted a 1.9% growth in sales as compared to last year in all its shopping centers across the country. Also, a 2.2% sales increase was posted for domestic sales, compared to last year.

"The retail industry in Australia is in healthy shape and, over the last decade, the publicly listed retailers have in the main reported substantial improvement in both profitability and margin", said Westfield's Co-Managing Director, Steven Lowy.

The company has shared that its Australian operations have shown tremendous resilience during the economic downturn, and operations in America and Britain, which had been largely hurt, are beginning to pick up again. Westfield is now confident of sales growing more in the coming quarter.