Stockland expects to lift earnings per share in the year ahead by between 6 and 7.5 per cent despite warning Australian businesses and consumers remain cautious and the global market will continue below-trend in the near term.
In the 12 months to June 30, the diversified property group posted a net profit after tax attributable to members of $527 million, a significant increase on the $105m in the previous year, but slightly below analyst forecasts of $550.2m.
The previous year's result was weighed down by a $355 million writedown to the company's residential assets.
Underlying profit, which excludes the impact of the writedown, was up 12 per cent to $555 million.
Revenue for the period was $2.183 billion, a 13.6 per cent increase on the $1.921bn posted in the previous corresponding period.
The group will pay a final dividend of 12c per share on August 29 to members on the register at June 30.