Stockland Corporation Ltd
(ASX:SGP) says it is on track to deliver 5 - 7 % growth in funds from operations this financial year after it lifted retail sales and residential deposits.
Stockland says it’s continuing to target an estimated 25.5 cents distribution per security, assuming no material change in market conditions.
The property developer's total retail sales lifted 2.4% in the September quarter, compared to the previous corresponding period.
The company also says net deposits on residential lots, townhouses and completed homes rose 32% to 2,301 in the September quarter (compared to same period last year).
Stockland posted a net profit of $889 million at 30 June 2016.
