SCA Property Group
(ASX:SCP) has announced its results for the six months ended 31 December 2015.
The company recorded a statutory net profit of $90.8 million in the first half, a 7.5 percent decline from a year earlier.
Chief Executive Officer Anthony Mellowes told investor’s specialty tenants continue to perform strongly, again recording annual sales growth of over 5 percent, despite a slowdown in sales growth from the company’s supermarket anchors.
Mr Mellowes said that while competition to acquire quality neighbourhood shopping centres has increased, the company is on the lookout for further takeovers.