Stockland: Update on 3Q20 and COVID-19

  • May 13, 2020 AEST
  • Team Kalkine

Stockland (ASX:SGP) provided update for 3Q FY 2020 and response to coronavirus. Key highlights as follows.

  • During January and February of this month, the business had a positive sales growth. However, in April, there was a material decline in net sales to 137 lots.
  • As at 30 April 2020, contracts on hand were 3,853 and the available liquidity was nearly $1.6 billion.
  • The Company offered its free space for the purpose of testing centres for coronavirus.
  • SGP reconfirmed that its distribution guidance and funds from operations remains withdrawn with uncertain outlook, for the full year period to 30 June 2020.

 


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