Stockland Corporation Ltd (ASX:SGP) reported a small 1.6% drop in statutory profit to $889 million last financial year.
Stockland says this is a “strong result”, and that its funds from operations were up 12.5% to $740 million.
The property development company also says its profit grew across all its core businesses – particularly its Residential division, which had an operating profit up 38.8%.
The company has declared its distribution per security is 24.5 cents, which up 0.5 cents.
