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Mall landlord forecasts ‘best ever’ earnings as pandemic hit recedes

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Convenience mall landlord SCA Property Group forecast its “best ever” full-year earnings results since listing almost 10 years ago, after a bumper six months of acquisitions and amid expectations the impacts of the pandemic will recede further across its $4.4 billion investment portfolio over the second half of the financial year.

The trust, which derives 42 per cent of its income from Woolworths and Coles leases, forecast adjusted funds from operations (AFFO) – its key earnings metric, tied to distributions – for fiscal 2022 of 15.2¢ per unit, up from 15¢ guided in October.

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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com

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    Original URL: https://www.afr.com/property/commercial/mall-landlord-forecasts-best-ever-earnings-as-pandemic-hit-recedes-20220208-p59un7