Scentre Growth Held Back by Challenged Consumer. FVE Unchanged at AUD 4.00
We found little to get excited about in narrow moat-rated Scentre Group’s first-half fiscal 2017 result where funds from operations, or FFO, rose 3.5% to AUD 12.01 cents per security, or cps. When the earnings dilution from asset sales are excluded, Scentre asserts FFO growth was approximately 5%. The issue facing Scentre and other retail landlords is the inability or reluctance of households to jack up their annual spending as they have in the past. Australian households face challenges of risi...Scentre Group is engaged in the ownership, development, design, construction, asset management, leasing and marketing activities with respect to its Australian and New Zealand portfolio of retail properties. Co.'s operational segment comprises the property investments and property and project management segments. The property investments segment includes existing shopping centers and completed developments. The property and project management segment includes property management and development. As of Dec 31 2015, Co. had a portfolio of 34 centers in Australia and six centers in New Zealand.
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