Scentre Group (AU:SCG) has released an update.
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Scentre Group has reported a robust first half of 2024 with Funds From Operations (FFO) rising to $568 million and distributions up by 4.2% to $446 million, despite a statutory profit that includes an unrealized property valuation decrease of $120 million. The company’s Westfield destinations have seen increased visitations and sales, and the Group continues to invest in property reconfigurations and expansions, with a strong focus on community safety and strategic growth opportunities. Looking ahead, Scentre Group has a positive outlook, expecting continued earnings and distribution growth for the full year of 2024.
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