Australia?s biggest residential developer, Stockland, has delivered a statutory profit of $1.3 billion for FY22, a 25% gain on the prior year.
The company said while macroeconomic conditions remain uncertain, the underlying performance of the business segments give them good visibility for the year ahead.
?We enter FY 2023 in a very strong capital position, with gearing sitting below our target range of 20-30% on a proforma basis,? said Chief Executive Tarun Gupta.
The Stockland share price dipped 1.5% in early morning trade.