News: SGP Stockland Corp FY net profit after tax down 1.6 pct

Aug 17 (Reuters) - Stockland Corporation Ltd (SGP) :

• Appendix 4e including Stockland financial report FY 2016 (SGP)
• FY revenue from ordinary activities up 10.1% to $2.33 billion
• Final distribution 12.3 cents per stapled security
• FY net profit after tax down 1.6% to $889 million
• Forecast growth in funds from operations per security of 5-7% and distribution growth of 4.1% in FY 2017
• Expected residential lot settlements and retirement living net reservations also remain buoyant for year ahead"
• Expects FFO per security to skew towards the second half
• FY 2017 distribution per security is targeted at 25.5 cents
• From FY 2017, distribution policy will be based on FFO and will reflect a payout ratio of 75 - 85%
• Will continue to report underlying profit"
• Expect to achieve more than 6,000 residential lot settlements in FY 2017 , with "strong" profit skew towards 2h17