Business
SCA (ASX:SCP) share price rises on double-digit increase in dividend and profit
The Shopping Cntrs Austrls Prprty Gp Re Ltd (ASX: SCP) share price will be on watch this morning after it posted an increase in profits and dividends.
You might not have guessed that COVID-19 had hit retail landlords hard. But SCA Property Group’s focus on neighbourhood centres provided it some protection.
The group reported a 14.1% increase in interim net profit to $102.9 million compared with the same period last year.
Watch the cash not profit
But profits aren’t really the focus when it comes to property groups. It’s more the Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO) that I watch.
On these two metrics, the group posted a weaker result compared to 1HFY20, which was before COVID.
However,…
-
Noosa News8 hours agoWoman dead and man rushed to hospital with gunshot wound following crash near Aussie World on Queensland’s Sunshine Coast
-
General14 hours agoBoy dies after being trapped between rocks off NSW beach
-
Noosa News15 hours agoFarmer Fred Perry’s 30-year conservation project creates bird haven after years of ‘bashing and burning’
-
Noosa News15 hours agoDetectives continue to search for answers on Crystal Beale’s death