Federation Centres (FDC) expects to increase earnings per share to between 16.5 cents and 16.8 cents after swinging to a full-year profit, as it continues its strategy of cost control to weather a subdued retail market.
For the year to June 30, the commercial property group posted a net profit after tax of $212.65 million, compared to a $222.89 million loss in the seven-month period to June 2012 following its rebirth from Centro Ltd.
Full-year underlying earnings was $224.4 million, in line with analyst estimates.
Gross expenses of $297.5 million for fiscal 2011-12 were attributable to settlement of class action and litigation defence costs.
Revenue was also up, at $546.05 million compared to $318.29 million in fiscal 2011-12.
The group paid a final unfranked dividend of 7.5 cents per security, bringing the total dividend to 14.1 cents for the financial year.