Scentre Group provided operational update

Scentre Group (ASX: SCG) provided an operational update for the period ended 30 April 2023, which are as follows:

• The company experienced 163 million customer visits in the first 17 weeks of the year, up by 20 million or 13.7% compared to the previous corresponding period in 2022.
• Its business partners have attained AU$6.4 billion in sales in the quarter, increased by 14.4% compared to the corresponding quarter in 2022, and on a rolling 12-month basis to 31 March 2023, its business partners achieved record sales of AU$27.5 billion.
• During the first four months, the company had a total cash collection of AU$864 million, which was increased by AU$64 million compared to the previous corresponding period.
• For FY23, Scentre Group is expecting its Funds from Operations to be in the range of 20.75 to 21.25 cents per security, indicating a 3.4% to 5.9% growth for the year.
• Distributions are anticipated to be at least 16.50 cents per security, demonstrating at least 4.8% growth for the year.

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