First Impression: Shopping centres Australasia-SCP- FY16 result

Bell Potter

Distributable Earnings of 13.75 cents per unit, up by 7.3% on the same period last year | Distribution up 7% to $12.2cpu, representing a payout ratio of 89% | Net tangible assets of $1.92 per unit, up by 8.5% from $1.77 per unit since 30 June 2015 (current price $2.09) |Portfolio occupancy 98.6% (specialty vacancy 4.3%) | Comparable sales growth: Specialty stores comparable MAT growth 5.6%, Aus Supermarkets up 0.2%, NZ | Supermarkets down 0.3%, discount department stores down 3.7%, mini majors up 5.5%.


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