Shopping Centres Australasia Property Group RE Ltd. (AU:RGN) has released an update.
Shopping Centres Australasia Property Group RE Ltd. has reported a solid FY24 with a net profit after tax of $17.3 million, FFO of 15.4 cents per security, and an improved portfolio occupancy rate from 97.8% to 98.1%. The company has made significant moves in funds management, property acquisition, and capital recycling, alongside a strong outlook for FY25 with targeted comparable NOI growth of 3% and a stable distribution payout ratio. These achievements underscore the company’s commitment to delivering resilient cashflows and long-term distribution growth to its security holders.
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