Feb 20 (Reuters) - Diversified property company Stockland Corporation Ltd (SGP) on Wednesday posted a 56 percent drop in half-year net profit due to cooling housing markets and intensifying competition in the retail sector.
Net profit after tax attributable for the six months ended Dec. 31 came in at A$300 million ($214.92 million), down 56.2 percent from last year.
Total revenue from its residential property segment for the half-year was A$658 million, down from the A$870 million it reported last year.
($1 = 1.3959 Australian dollars)