Stockland declares strong result as profit falls 1.6%

Company News

by David Chau

Stockland Corporation Ltd (ASX:SGP) reported a small 1.6% drop in statutory profit to $889 million last financial year.

Stockland says this is a “strong result”, and that its funds from operations were up 12.5% to $740 million.

The property development company also says its profit grew across all its core businesses – particularly its Residential division, which had an operating profit up 38.8%.

The company has declared its distribution per security is 24.5 cents, which up 0.5 cents.

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.