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Scentre FY'17 FFO climbs 4.25% YOY

Scentre Group said full-year 2017 funds from operations came to A$1.29 billion, or 24.29 Australian cents per share, up 4.25% from about A$1.24 billion, or 23.30 cents per share, in the year-earlier period.

Also in the reporting period, revenue decreased to about A$2.47 billion from A$2.52 billion, while profit after tax attributable to members of the company came to roughly A$4.22 billion compared with A$2.99 billion in 2016.

Dividend for the full year ended Dec. 31, 2017, was 21.73 cents per security, with the final dividend of 10.87 cents per security to be paid Feb. 28.

Looking ahead, the company forecasts FFO for full year 2018 to increase about 4.0% year over year, with distribution expected to increase 2.0% over the period to 22.16 cents per security.