Communities
In our Communities businesses, Residential delivered strong profit growth, up 24.3 per cent from FY17, with solid volumes of net deposits from high margin Sydney and Melbourne projects providing high profit visibility for the year head. Operating profit in Retirement living was down 16.7 per cent on FY17, with sales volumes impacted by adverse media coverage and reduced settlement due to the timing of development completions.
Commercial Property
Our Commercial Property business continued to deliver solid recurrent earnings with a 2.3 per cent increase in comparable FFO to $614 million, with strongest performance from our logistics assets.
- Retail Town Centres: FFO was $428 million, up 2.2 per cent on FY17
- Logistics: FFO was $152 million, up 6.2 per cent on FY17
- Workplace: FFO was $54 million, down 9.6 per cent on FY17
Communities at a glance | |
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OPERATING PROFIT ↑ 24.3% | OPERATING PROFIT ↓ 16.7% |
OPERATING PROFIT MARGIN 18.3% | CASH RETURN ON ASSETS 4.6% |
RETURN ON ASSETS, CORE PORTFOLIO 22.0% | RESIDENT SATISFACTION 90% |
RESIDENT SATISFACTION 93% | |
RESIDENTIAL
RETIREMENT LIVING
Commercial Property at a glance | |
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FUNDS FROM OPERATIONS (FFO) ↑ 2.3%growth in comparable FFO across our Commercial Property Portfolio | |
 RETAIL TOWN CENTRES |  WORKPLACE AND LOGISTICS |
RETAIL TENANT SATISFACTION 72% - rated Top 2 | WORKPLACE AND LOGISTICS TENANT SATISFACTION 89% |
RETAIL OCCUPANCY 99.4% | LOGISTICS OCCUPANCY 98.7% |
