February 20, 2018 / 10:17 PM / 6 months ago

Australia's Scentre Group annual underlying profit rises 4 pct

Feb 21 (Reuters) - Retail property developer Scentre Group on Wednesday posted an increase of over 4 percent in its annual underlying profit citing growth in customer visitations and retailer demand.

Funds from operations (FFO), the primary earnings metric of the company, totaled A$1.29 billion ($1.02 billion) for 2017 compared to $1.24 billion the previous year. Scentre also said it expects FFO growth of about 4 percent for 2018 and distribution per security growth of about 2 percent. ($1 = 1.2686 Australian dollars) (Reporting by Sumeet Gaikwad in Bengaluru)

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