Aug 21, 2019 / 01:30AM GMT
Mark Andrew Steinert - Stockland - MD, CEO & Executive Director
Good morning, everyone, and welcome to Stockland's 2019 Full Year Results. I'd like to begin by acknowledging the traditional custodians of the land on which we meet, the Gadigal people of the Eora Nation, and pay my respects to their elders, past and present.
The format for today is that Tiernan, Louise, Andrew and I will run through the key points of the results, and then we'll open up for questions.
I'm pleased to announce today, results that are in line with our forecast and guidance with 5.1% FFO growth per security. And that despite challenging market conditions, particularly in residential and retail, we saw a strong growth in the communities business, particularly with residential taking over 300 basis points of market share and logistics and workplace portfolio performing strongly. As a result, return on equity improved by 70 basis points to 11.9% and distribution per security increased 4.2% to $0.276.
Conversely, net tangible asset backing per security was down 3.3%, and statutory profit was also down
Full Year 2019 Stockland Corporation Ltd Earnings Call Transcript
Feb 15, 2024
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