Stockland
(ASX:AGP) has reported a strong third quarter on higher retail sales and growth in its speciality business.
Comparable speciality sales were up 5 per cent for the quarter. Residential deposits were the highest in five years despite limited releases due to infrastructure delivery in key projects.
Stockland says it’s on track to settle on between 5000 and 6000 lots in its residential business during the 2015 financial year and has acquired a further 4000 total lots during the March quarter.
Retirement Living is on track for increasing sales and Stockland has purchased three new logistics assets with developmental potential.
Stockland made a net profit of $462 million in the first of the 2015 financial year.
