Shopping Centres Australasia Stat NPAT rises 73% to $319.6m

Company News

by Jessica Amir

Shopping Centres Australasia Property Group (ASX:SCP) has reported its statutory net profit after tax rose 73 per cent in FY17, per cent to $319.6 million. 

The real estate investment trust’s EBIT rose to $349.8 million in FY17, up from FY16’s $172.1 million.

Its revenue from ordinary operations also firmed higher by 13.1 per cent to $211.4 million.

The company says its bolstered results came from a number of things including supermarket sales growth driven by Woolworths improvements, the disposal of 14 NZ assets, acquisitions and occupancy of 98.4 per cent.

Meantime its distribution per unit rose by 7.4 per cent to 13.1 cents per unit.

Shares in Shopping Centres Australasia Property Group (ASX:SCP) last traded 0.46 per cent higher to $2.20.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.