Australia's Stockland marks best day in over 6 years on upbeat forecast, annual profit
BUZZ-Australia's Stockland marks best day in over 6 years on upbeat forecast, annual profit ** Stockland Corp's shares SGP.AX jump as much as 16.1% to A$4.70, their biggest intraday pct jump since March 2020
** At highest level since March 12
** Diversified property group's FY26 statutory profit up 20.2% y/y
** Citi says results exceeded expectations, funds from ops (FFO) of 36.9 AU cents/shr at top end of guidance, residential settlements of 8,902 beat consensus
** Adds, FY2027 FFO guidance range 6% ahead of consensus, driven by data centre development profits
** SGP peer Mirvac Group MGR.AX rises as much as 8.6% to A$1.89, their biggest single-day gain since November 2020 and highest level since March 11
** MGR FY26 statutory profit grows almost 10x y/y
** YTD, SGP down 20.6%, MGR decline at 9.2%
($1 = 1.4134 Australian dollars)
(Reporting by Sherin Sunny in Bengaluru)
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Australia's Stockland marks best day in over 6 years on upbeat forecast, annual profit