Scentre Group Limited (ASX:SCG) has firmed its first half profit and confirmed its second half distribution guidance.
The results come after Westfield Group
(ASX:WDC) merged its Australian and New Zealand business with Westfield Retail Trust
(ASX:WRT) to create Scentre Group last month.
Excluding charges and credits associated with the restructure and merger Scentre Group’s net profit rose 3.5 per cent to $503 million in the first half of the 2014 calendar year.
CEO Peter Allen says the Australian business and platform has proved highly resilient and the high quality portfolio has delivered excellent sales productivity, almost full occupancy and continued growth in average rents and comparable net property income.
Westfield Group will pay a dividend of 26.25 cents per share while Westfield Retail Trust will pay a dividend of 10.2 cents per share.
Looking ahead Scentre Group has affirmed it expects to deliver a second-half distribution of 10.2 cents per share.
