Shopping Centres Australia (SCA) Property Group has lifted its full-year distribution forecast after more than doubling its first-half net profit.
In the six months to December 31, SCA delivered a net profit of $98.2 million, a 128.4 per cent increase on the $43m recorded in the previous corresponding period.
Revenue rose 10.1 per cent to $85.8m, from $77.9m a year earlier.
A stong 12.5 per cent lift in funds from operations (FFO) to $37.8m drove the upbeat result.
SCA said it paid an unfranked interim distribution of 5.6c on January 30 to shareholders who were on the register at December 31.
Distributable earnings per security rose 4.1 per cent in the half to 6.3c.
The group also lifted its guidance for full-year distributable earnings to 12.6c per security, from 12.5c per security previously. Full-year cash distributions guidance was also lifted, from 11.3c to 11.4c.