Stockland announced FY22 results for the period ended 30 June 2022

Stockland (ASX: SGP) announced its FY22 results for the period ended 30 June 2022:

• In FY22, the company delivered a statutory profit of AU$1,381 million, which is a 25% increase from the previous corresponding period, and Funds from operations of AU$851 million, an improvement of 8.0% from FY21.
• Net tangible assets of AU$4.31 per share, increased 8.3% from 30 June 2021, indicating solid revaluation gains from the high-quality portfolio.
• It has reported FFO per share of 35.7 cents, improved 7.9% on FY21, and slightly more than its guidance range of 35.1 to 35.6 cents.
• The company has continued its momentum all over the Communities platform with Master planned communities agreements on hand increased 19.4% compared to PCP and an 18.3% operating profit margin despite rising cost pressure.
• For FY23, Stockland anticipates its funds from operations per share to lie in between 36.4 to 37.4 cents on a pre-tax basis, and tax payable is likely to range between 5-10% of pre-tax funds from operations.

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