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Stockland Limited (ASX:SGP) has increased its earnings per share guidance after reporting a full year profit rise.
The property investor and developer boosted its annual net profit to $527 million in the 2014 financial year.
On an underlying basis net profit gained 12 per cent to $555 million as underlying earnings per security grew 7 per cent to 24 cents.
Managing Director and CEO Mark Steinert says the solid performance reflects the company’s growth strategy as well as positive residential market conditions.
Looking ahead the company expects earnings per share to improve by between 6 and 7.5 per cent in the current 2015 financial year.
A final dividend of 12 cents per share has been declared, taking the full year payout to 24 cents per share.
News: Residential property lifts Stockland FY profit
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