Region Group upgrades FY26 guidance as HY profit tops estimates
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The news: Shopping centre owner Region Group more than doubled its first-half profit to $180 million and upgraded its full-year earnings guidance.
The numbers: The result outstripped estimates of $139.5 million, according to Visible Alpha data. Funds from operations (FFO) rose 3.9% year on year to 7.9 cents per share, while adjusted funds from operations (AFF) lifted 3% to 6.9 cents per share.
Region said its moving annual turnover saw growth of 3.1%, driven by supermarket sales growth of 3.1% and non-discretionary specialty sales growth of 3.3%. Portfolio occupancy edged up half over half from 97.5% to 97.7% while specialty vacancy climbed from 4.5% to 5.4% year on year.
Region declared a distribution of 6.9 cents per share, up from 6.7 cents a year earlier. Assets under management of $5.4 billion marked a 3.9% increase half over half.
The company upgraded its full-year FFO guidance from 15.9 cents per share to 16 cents, marking 3.2% growth on FY25. AFFO guidance has been upgraded from 14 cents per share to 14.1 cents, representing growth of 2.9% year on year.
The source: ASX
