Why the Stockland (ASX:SGP) share price is sliding today

The Stockland Corp Ltd (ASX: SGP) share price is sliding, down 2% in morning trade. At the time of writing, the Stockland share price was down 0.88% to $4.49.

We take a look at Stockland’s results for the financial half-year ending 31 December (H1 FY21) below.

What financial results did Stockland report for H1 FY21?

The Stockland share price is sliding after the company reported a 30.4% drop in statutory profits of $350 million for the half year. This was down from $504 million in H1 FY20. Net profits before tax dropped 39.5% from the prior corresponding period (pcp) to $312 million.

Stockland’s earnings before interest (EBIT) of $468 million was down 8.1% from the $509 million reported in the first half of the 2020 financial…