Key highlights

  • Scentre Group (ASX:SCG) the stock finished the session at $3.44, up approximately 0.29% on 19 October 2026, and the shares are down approximately 17.51% over the past year.
  • The 25 August 2026 release reports funds from operations of $612 million, up 4.4%, and distributions of $481 million, up 4.9%.
  • Second-half FFO guidance was upgraded to at least 12.06 cents per security.

Scentre Group (ASX:SCG) owns and operates Westfield shopping centres in Australia and New Zealand. On 19 October 2026, the stock finished the session at $3.44, up approximately 0.29%. Over the longer term, the shares are down approximately 17.51% over the past year. On 25 August 2026, the company reported its results for the six months to 30 June 2026, covering funds from operations, distributions, trading metrics and upgraded guidance.

Half-year results

Funds from operations were $612 million, or 11.73 cents per security, up 4.4%. Distributions were $481 million, or 9.215 cents per security, up 4.9%. Statutory profit was $975 million and includes an unrealised property valuation increase of $478 million. The portfolio was valued at $33.7 billion at 30 June 2026.

Guidance

Based on first-half operating performance and subject to no material change in conditions, second-half FFO guidance was upgraded to at least 12.06 cents per security, growth of at least 4.5%, implying full-year FFO of at least 23.79 cents, growth of at least 4.25%. Second-half distribution guidance was upgraded to 9.258 cents per security, implying a full-year distribution of 18.473 cents, growth of 4.25%.

Trading and leasing

Business partners’ sales over the 12 months to 30 June 2026 grew to a record $30.3 billion, up $1.0 billion, with total sales up 4.2% and specialty sales up 5.4%. For the six months, sales grew 3.7% and specialty sales 5.1%, and in July total sales grew 2.7% and specialty sales 3.6%. The company reports 347 million customer visits so far this year, up 3.5%, and 552 million over 12 months across 42 Westfield destinations, a record. Occupancy was 99.8%, rent escalations increased 5.5% and 1,401 leasing deals achieved average releasing spreads of 3.7%. Westfield membership grew to 5.2 million.

The release lists further metrics. Customer visitation of 347 million so far in the year is up 3.5%, or 12 million, and Westfield membership of 5.2 million is up through member benefits and experiences. Occupancy of 99.8% is described as the highest in more than a decade, and the company says it will create value from its land holdings as well as its Westfield destinations in Australia and New Zealand. The distribution of 9.215 cents per security for the half is up 4.9%.

Reading the share price change

The share price of Scentre Group is down approximately 17.51% over the past year. That figure measures price movement only. It does not include dividends or franking credits, and the exact amount depends on the start and end dates used, which is why it is described as approximate here. A share price that is approximately 17.51% lower over the period reflects market expectations and conditions across many factors at once, not only the company’s most recent results.

On 19 October 2026 the shares moved approximately 0.29% on the day, which is one session within that longer period. The results referred to in this article cover a period that ended before 19 October 2026 and were released on a different date to the share price figures quoted. For that reason, this article does not treat the share price change as a response to the announcement.

Sector backdrop

The benchmark index finished the 19 October 2026 session higher. The S&P/ASX 200 (ASX: XJO) stood at 8,845.70 at 4:25 pm (GMT+11) on 19 October 2026, up 0.44%, or 39.00 points, for the day. On the sector map, A-REIT fell 0.34%. More broadly, Energy rose 2.16%, Industrials 0.93%, Financials 0.85%, Utilities 0.38% and Consumer Staples 0.25%, while Information Technology fell 1.35%, A-REIT 0.34%, Consumer Discretionary 0.18%, Telecommunication Services 0.16% and Health Care 0.13%.

Risks shareholders should weigh

Statutory profit includes a large unrealised valuation increase, which can reverse. Guidance is subject to no material change in conditions, and July sales growth was lower than the six-month growth rate.

What’s next

Scentre will continue investing in its destinations and developing its land holdings, with second-half guidance as upgraded.