Australia's Scentre Group jumps most in over 7 weeks on robust funds from ops

Scentre

23/08/2022 02:27

** Shares of property firm Scentre Group  SCG.AX  up as much
as 4.3% to A$2.90, their biggest intraday pct gain since July 4
    ** Posts HY operating profit of A$540.5 mln ($372.67 mln),
up 17.5% from a year ago  urn:newsml:reuters.com:*:nASX2qWhvP
    ** SCG's HY funds from operations (FFO) rose 18.3% to
A$548.6 mln, beating a UBS estimate of A$506 mln
    ** Expects FY FFO per security to be above 19 Australias
cents and distribution of at least 15 Australian cents
    ** UBS says there is scope for SCG to improve FY
distribution 
    ** Stock hits highest level since Aug 16
    ** Stock down 12% YTD, as of last close
    

($1 = 1.4503 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))