Stockland (AU:SGP) has released an update.
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Stockland reports a pre-tax Funds From Operations (FFO) of $843m for FY24, a 4.5% decrease from the previous year, with a per-security FFO of 35.4 cents, meeting the upper end of their forecast. Despite a statutory profit drop to $305m from $440m, the company has actively reshaped its portfolio, acquiring $1.06bn worth of projects and disposing of non-core assets, while maintaining a strong operational performance with significant investment property growth and community development achievements.
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