Scentre Group Earnings: Solid Results Underpinned by High-Quality Retail Portfolio

In line with our expectations and on track for full-year guidance, Scentre Group delivered funds from operations of AUD 10.95 cents per security and distributions of AUD 8.60 cents per security in the first half of 2024. Our FFO forecast of AUD 21.85 cents per security is a 4% increase on last year and at the lower end of management’s reaffirmed AUD 21.75-22.25 cents guided range. We forecast distributions of AUD 17.20 cents per security, up 4% from last year.