Scentre Group reports half-year profits, announces distributions

Scentre Group has announced its Half Year Financial Reports for Scentre Group Trust 1 (SGT1), Scentre Group Trust 2 (SGT2), and Scentre Group Trust 3 (SGT3) for the period ended 30 June 2025. SGT1 reported a profit after tax of $354.1 million, while SGT2 achieved a profit after tax of $401.9 million. SGT3 recorded a profit after tax of $194,000. These results include unrealised property valuation increases of $114.8 million for SGT1 and $66.6 million for SGT2.

Interim distributions for the period, payable on 29 August 2025, were declared at 5.070 cents per unit for SGT1 and 3.745 cents per unit for SGT2, totalling $264.1 million and $195.1 million, respectively. SGT3 will not pay an interim distribution. The total distribution to securityholders will be 8.815 cents per Scentre Group stapled security, with an election to participate in the Distribution Reinvestment Plan (DRP) open until 18 August 2025.

The Group's strategy focuses on enhancing its Westfield destinations and unlocking growth from strategic land holdings, aiming for 2025 Funds From Operations (FFO) of 22.75 cents per stapled security and a full-year distribution guidance of 17.72 cents. A significant event post-reporting period was SGT1's sale of half its 50% interest in Westfield Chermside for $683 million on 31 July 2025.