Tag: SGP

Property developer and shopping mall owner, Stockland was another well-known company to downgrade distribution (or dividend) and earnings for the year to June on Monday.

Stockland shares ended the day 6% higher at $44.90 to be the best-performed stock in the ASX 200 after a solid first-quarter trading update yesterday.

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.

Property developer and shopping centre owner, Stockland said its annual net profit rose by 34%, although its growth in funds from operations would likely ease this year partly due to higher energy costs.

Property developer Stockland Group (SGP) expects to settle more than 6,000 residential lots in the year ahead as low interest rates help offset the economic impact of the mining downturn.

Property group Stockland (SGP) has reaffirmed its full-year earnings guidance after reporting strong growth in the March quarter. The company says total sales rose 2.3% in the three months ended March 31, boosted by specialty stores sales growth of 3.5% in its retailing division.

Despite some early signs the home building and buying booms in Sydney and Melbourne are slowing, Stockland (SGP) says it remains on track to deliver its target of around 6000 sales of residential lots this financial year.

The annual results of Stockland (SGP), the property developer, seem to have come in without some of the losses and lower profits reported by other companies reporting yesterday in Newcrest (NCM), Ansell (ANN) and Aurizon (AZJ).

You have to be a bit cynical about the result property group Stockland (SGP) released to the market yesterday, showing a 78% drop in full year profit.

Shares in property group, Stockland hardly edged higher yesterday after the well-telegraphed strategic review produced another small writedown and a slight shift in emphasis away from residential and towards retail and industrial property.

Property developer Stockland Group yesterday took another move to expand its share buyback by selling another asset to finance the expansion.

Property developer Stockland is continuing with its reweighting of its assets, selling some non-housing investments and moving deeper into residential and retail.

Two statements from Stockland Holdings yesterday failed to have a dramatic impact on the share price, but they did show the way the company is changing its orientation.

The market took a look at what was on the whole a positive update from property developer and investor, Stockland yesterday and went ‘hmmmmm, don’t know’ and marked the securities down by more than 2% by the close.

Securities in Stockland added more than 3% yesterday, hitting their highest level since last October, after the property developer said it almost doubled first-half profit and upgraded its full-year earnings outlook to growth of 8.5% from 7% previously.

Stockland, Australia’s biggest residential property trust, might have stormed back to full-year profit because of increased sales in its residential communities business, and no asset impairment losses, but its taking a very circumspect view of the next year.

Home lending may be slowing, but Stockland says it’s on track to sell a record number of homes in the June 30, 2010 financial year, and it remains confident of meeting earnings guidance.

Stockland sent a shiver through the property sector yesterday with another sharp downgrade involving more than $400 million in new asset impairment charges and lower profits.