General Growth operating income falls to $68.91 million in May

By Caroline Salls

Pittsburgh, July 1 - General Growth Properties, Inc. reported $68.91 million of operating income for May on $206.34 million in total revenues, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.

In comparison, the company posted $80.85 million of operating income for April on $205.32 million in total revenues.

The net loss for May was $64.58 million, widening from a $10.95 million April net loss.

General Growth had $479.21 million in cash and cash equivalents at May 31, down from $507.11 million at the end of April.

General Growth, a Chicago-based real estate investment trust that owns regional shopping malls, master planned community developments and commercial office buildings, filed for bankruptcy on April 16, 2009. Its Chapter 11 case number is 09-11977.

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