Stockland Reported Solid Numbers in First Quarter of FY20

  • Oct 21, 2019 AEDT
  • Team Kalkine

Stockland (ASX: SGP) reported its first quarter report for FY20, with an improvement in the residential sales, an increase in comparable retail MAT growth, continued up-weighting in logistics and progress in its commercial property development pipeline:

  • Sales were above expectations in the quarter, on track to deliver over 5,000 lot settlements in FY20;
  • Net reservations increased by 9.7% on pcp basis, reflecting an improvement in both customer sentiments and housing market conditions;
  • Leasing activity was reported strong with 105,460 sqm leased.

At AEST 12:54 PM, the stock was trading at $4.845 per share, up by 4.87%.


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