Two of Scentre's Westfield shopping centres will be given multimillion-dollar makeovers, including upmarket David Jones department stores and multiplex cinemas, in a bid to shore up booming profits.

The country's biggest retail landlord, Scentre Group, lifted its full-year profit 10.4 per cent to $2.99 billion on the back of strong sales, new developments and property revaluations.

Scentre, whose property portfolio has ballooned to $45.7 billion, announced it would redevelop two of its centres, the Westfield Carousel in Perth and Westfield Plenty Valley in Victoria.

The $350 million redevelopment of Westfield Carousel will include a David Jones department store, expanded fashion range with international mini-majors, new entertainment, dining and leisure areas and an upgraded Hoyts cinema.

Westfield Plenty Valley will add a nine-screen Village cinema and a dining and entertainment precinct in an $80 million redevelopment.

"Three new David Jones department stores will open in Perth at Westfield Carousel, Innaloo and Whitford City. These stores will anchor the exceptional retail mix being curated for each of these centres and underpin their redevelopment." Scentre chief executive Peter Allen said.

Scentre was focusing on more relevant, on-trend and desirable retailers.

"These retailers continue to drive demand for retail space across the Scentre Group portfolio which remains more than 99.5 per cent leased," Mr Allen said.

The lift in speciality sales across Scentre's malls comes at a time when top Australian brands are struggling to survive cutthroat competition from fast-fashion international retailers.

This year well-known brands Marcs, David Lawrence, Rhodes & Beckett and Herringbone have been placed in administration.

Strong sales were seen across most categories, with increases in jewellery, health, beauty, food and technology categories, the retailer said.

The company has also lifted specialty sales 2.6 per cent to an average of $11,203 a square metre.

But the group's full-year revenue fell 12.1 per cent to $2.52 billion, versus $2.86 billion the previous year.

Property revaluations contributed a significant $1.6 billion portion of profits. 

The revaluations reflect strong net operating income growth throughout the portfolio, the value creation from the completion of major redevelopments and the continued improvement in capitalisation rates, Scentre said.

The $355 million redevelopment at Westfield Chermside includes stores from Zara, H&M, Uniqlo and Sephora. The centre will add 33,000 sqm of retail space bringing the total size to more than 156,000 sqm on completion, the largest in Queensland.

The company is also working on the $80 million redevelopment of Westfield Whitford City with an Event cinemas complex, restaurants, cafes and family entertainment. 

Distributions for year ended December 31 will be 21.3 cents a share.