Chanticleer

Stockland's window into COVID-19 recovery

As the country's single largest developer of new residential housing, Stockland is a barometer of a critical engine of economic growth. Its latest results give reason for optimism.

Aug 25, 2020 – 12.27pm

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Key Points

Revenue ($m) 2812.0, up 1.6%
Pre-tax profit ($m) 33.0, down-90.8%
Net profit ($m) -95.0
Final dividend (c) 10.6, down-24.8%, payable on Aug 31

Diversified property group Stockland has released profit results that provide some insights into how Australia may climb its way out of the COVID-19 recession.

Chief executive Mark Steinert says Stockland's community centres business, which comprises 30 retail centres in NSW, Victoria, Queensland and Western Australia, is bouncing back quickly after being hit hard by the virus.

Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist.