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Stockland (ASX:SGP) has met market expectations and reported a 58 per cent jump in its full year net profit, coming in at $754.6 million.



In the 2011 financial year, the property developer’s underlying profit was up 8.7 per cent and revenue grew 29.1 per cent to $3.0152 billion.



Earnings per security were 31.7 cents. Stockland believes it can maintain this level in the 2012 financial year, subject to economic factors.



Such factors include no short term interest rates rises, no material flow-on impact from recent global market volatility and a steady improvement in customer confidence and residential building activity over the next year.

A final distribution of 11.9 cents per share has been declared, bringing the total year distribution to 23.7 cents, up 8.7 per cent from the year before.