Scentre Group reported a 4.9% increase in first-half distributions to A$481 million on Tuesday, alongside a 4.4% rise in funds from operations to A$612 million.
The Australian and New Zealand retail property giant, which operates 42 Westfield destinations, posted a statutory profit of A$975 million for the six months ended June 30, including an unrealized property valuation gain of A$478 million. Portfolio valuation stood at A$33.7 billion as of the period end.
Portfolio occupancy reached 99.8%, the highest level in more than a decade, while business partner sales climbed 4.2% year-on-year to a record A$30.3 billion over the 12 months to June.
Chief Executive Elliott Rusanow said the company remains focused on "generating long-term earnings growth from its Westfield business while unlocking additional value from its land holdings."
For the full year 2026, Scentre Group raised its funds from operations guidance to at least 23.79 cents per security, representing growth of at least 4.25%. Distribution guidance was also lifted to 18.473 cents per security, implying a similar increase.
