Stockland On Track To Meet 'Tightened' Guidance
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Property and retailing group Stockland, says its earnings guidance for the 2017-18 financial year will be for “approximately 6.5% growth” in Funds From Operations (FFO) per security.
Stockland said it had “tightened” this guidance which will be "at the top end of its previous guidance range of 5-6.5%.”
"This reflects continued growth in Stockland’s market-leading residential business, with approximately 6,400 settlements completed in the year to June 2018,” the company said in a short statement to the ASX yesterday.
Stockland said it "reaffirms the estimated distribution for the six month period to 30 June 2018 of 13.5 cents per ordinary stapled security.”
The full year results will be out in mid August.
The news saw the company’s securities jump nearly 2.5% to $4.12 on a day when the wider market rose to a new 10 year high, then fell back sharply.
Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.
At the AFR he was a finance writer, Finance Editor, News Editor and Chief of Staff. At the Nine Network he was supervising producer of Business Sunday for more than 16 years. He has also written for other online and analogue print publications here and overseas.