Stockland lifts earnings guidance

Stockland Hervey BayProperty group Stockland has lifted its full year earnings guidance slightly thanks to strong retail sales growth from its shopping centres.

Stockland now expects to record earnings per share growth of between 7.0 and 7.5 per cent for the 2014/15 financial year, which is a slight improvement on its previous guidance for 6.75 to 7.5 per cent growth.

Specialty sales from across Stockland’s retail arm were up 4.9 per cent during the three months to March 31, while deposits in its residential business were at a five year high for the year to date.

AAP

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