Scentre grows Q1 sales, confirms FY targets

Company News

Scentre Group Limited (ASX:SCG) has posted sales growth and confirmed its annual funds from operations guidance. 
 
The shopping centre operator reports comparable specialty store sales in Australia rose 5.8 per cent in the first quarter and are 4 per cent higher over the year to the end of March. 
 
CEO Peter Allen says the company has seen an improving retail sales environment with 21 consecutive months of positive specialty sales growth in Australia. 
 
Over the 2015 calendar year Scentre Group expects funds from operations to increase 3.5 per cent to 22.5 cents per share. 
 
Scentre Group reported a net profit of $6.62 billion in the 2014 calendar year.