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Stockland on track to meet guidance

stockland_merrylands-mix-use-apartments-and-retail-precinct_artist-impression_may-2016Retail landlord Stockland announced its earnings guidance for FY 2017-2018 will be at the top of its previous guidance range.

The company said its earnings guidance will be for “approximately 6.5 per cent growth” in Funds From Operations (FFO) per security, at the top from the previous guidance range of 5 to 6.5 per cent.

“This reflects continued growth in Stockland’s market-leading residential business, with approximately 6,400 settlements completed in the year to June 2018,” the property development company said in a statement.

Stockland said it “reaffirms the estimated distribution for the six month period to 30 June 2018 of 13.5 cents per ordinary stapled security.”

The full year results will be out in mid August.

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