Scentre Group, the owner and operator of Westfield shopping centres across Australia and New Zealand, has announced a solid performance for the first half of 2025. The company reported growth in both funds from operations (FFO) and distributions for the six months ending 30 June 2025. In light of these results, Scentre Group has upgraded its distribution guidance for the second half of the year, further solidifying expectations of growth for the full financial year.
For the first half, Scentre Group recorded funds from operations of $587 million, a 3.2 per cent increase. This translates to 11.28 cents per security. The company’s statutory profit reached $782 million, incorporating an unrealised property valuation increase of $177 million. Scentre Group operates as a real estate investment trust, specialising in the ownership, management, and development of Westfield shopping centres. These centres serve as major retail destinations for consumers and valuable assets for investors.
Looking ahead, Scentre Group reaffirmed its funds from operations target of 22.75 cents per security for the full year. This represents a projected growth rate of 4.3 per cent for 2025, assuming no significant changes in current economic conditions. Reflecting confidence in its ongoing performance, the company has increased its distribution guidance for the full year to 17.72 cents per security, marking a 3 per cent increase.
