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.
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.
Communities at a glance
OPERATING PROFIT MARGIN
CASH RETURN ON ASSETS
RETURN ON ASSETS, CORE PORTFOLIO
Commercial Property at a glance
FUNDS FROM OPERATIONS (FFO)
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