SCA announces $184.7M net profit

Company News

by David Chau

Real estate investment trust, the SCA Property Group (ASX:SCP), has reported a net profit (after tax) of $184.7 million for the 2016 financial year.

The Group says its net profit increased by 22.7%, compared to the same period last year.

SCA also says the value of its property portfolio rose from $1.9 billion to around $2.1 billion since 30 June last year. This was mainly due to acquisitions and revaluations.

As for its earnings guidance for the 2017 financial year, the Group expects its Funds From Operations to be 14 cents per unit, which is a 3.3% increase over the previous financial year.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.