SCA Property Group
(ASX:SCP) has upgraded its FY16 earnings guidance following the acquisition of three more neighbourhood shopping centres.
The retail property trust purchased centres in Griffith and Tamworth in New South Wales and near Mackay in Queensland, for a combined total of $69.8 million.
As a result of these acquisitions, SCA Property Group has upgraded its full year distributable earnings per unit to 13.5 cents, up from the previous guidance of 13.3 cents.
The company also upgraded its FY16 full year distributions per unit to 12.2 cents from 12 cents previously.
SCA Property Group recorded a net profit of $150.5 million at 30 June 2015.
