Stockland Limited
(ASX:SGP) is on track to deliver underlying earnings per security guidance following strong performance across all key business areas in the first quarter.
The company announced it is on track to deliver underlying earnings per security growth of 6 to 7.5 percent and FFO per security growth of 8.5 to 10 percent for the year, assuming no material change in market conditions.
The property development company announced that residential sales remained robust with a further 1,557 net deposits for the quarter.
Stockland Managing Director and CEO Mark Steinert said the group was very well placed to achieve its target of approximately 6000 residential settlements this year.
Stockland reported a net profit of $903 million at 30 June 2015.
