Scentre Group (ASX:SCG) Reports Strong Half-Year Financial Performance and Announces Dividend
Financial Performance
Scentre Group reported a half-year profit after tax of $782.2 million, a substantial increase from $403.9 million in the previous year. Funds from Operations (FFO) rose by 3.2% to $586.6 million. Revenue for the period increased by approximately 2.9% to $1,313.8 million, supported by a 3.2% rise in Net Operating Income.
Operational Highlights
The Group’s Westfield destinations saw 340 million customer visitations, a 3.0% increase year-on-year, with portfolio occupancy reaching 99.7%, the highest since 2017. Significant developments include the completion of the first stage of Westfield Bondi in Sydney and the opening of the initial phase of Westfield Southland redevelopment in Melbourne. Business partner sales grew to $13.8 billion, up 2.9%, while specialty sales increased by 3.9%. The Westfield membership program surpassed 4.7 million members.
Dividend and Distribution
Scentre Group announced an interim distribution of 8.815 cents per stapled security. The distribution will be paid on 29 August 2025, with a record date of 15 August 2025.
Future Outlook
The Group reaffirmed its FFO target of 22.75 cents per security for 2025, representing 4.3% growth. Distribution guidance for the full year has been upgraded to grow by 3.0%, reaching 17.72 cents per security.
Strategic Partnerships
In July 2025, Scentre Group sold a 25% interest in Westfield Chermside to Dexus Wholesale Shopping Centre Fund for $683 million, retaining its role as Property, Leasing, and Development Manager.
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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