The Vicinity Centres (ASX: VCX) share price is watch today after the shopping centre giant posted a statutory net profit of $1,391.2 million for FY26, with funds from operations rising to $700.1 million and annual distributions increasing to 12.40 cents per security.

What did Vicinity Centres report?

• Statutory net profit after tax rose to $1,391.2 million (up 38.5% from FY25).
• Funds from operations (FFO) were $700.1 million, a 3.9% increase on the prior year.
• FFO per security up 2.8% to 15.21 cents; AFFO per security up 3.6% to 13.04 cents.
• Annual distribution lifted 3.3% to 12.40 cents per security, with a payout ratio of 95.5% of AFFO.
• Net tangible assets rose 7.7% to $2.59 per security.
• Comparable net property income increased by 4.2%.

What else do investors need to know?

Vicinity Centres continued to reshape its portfolio during FY26, acquiring the remaining 75% interest in Brisbane’s Uptown for $212 million and DFO Eastern Creek in Sydney for $351 million. The group also divested non-strategic assets for $447.2 million, including Taigum Square, often at substantial premiums to book value. These moves have strengthened Vicinity’s premium asset weighting to 67% of its retail portfolio, reflecting a strategic pivot toward high-performing CBD and outlet centres.

Portfolio performance showed record leasing spreads (+4.2%) and occupancy of 99.6%, highlighting the strength in retail demand and a focus on differentiating asset quality. Gearing remains at the lower end of the target range (26.1%) after significant investment and asset recycling, with debt maturities well managed at a weighted average of 5.1 years.

What’s next for Vicinity Centres?

Looking ahead, Vicinity Centres is maintaining its focus on premium centre investments, mixed-use developments, and strategic tenant remixing. Major developments are progressing at Chatswood Chase in Sydney (which is now complete), Galleria in Perth (opening November 2026), and planning is underway to revitalise Uptown in Brisbane. Further expansion and repositioning at Chadstone and other flagship assets are also on track.

For FY27, guidance points to FFO of 16.0–16.2 cents per security and AFFO of 13.9–14.1 cents per security. The group expects comparable net property income growth around 3.5% and continued investment to support the evolving retail landscape.

Vicinity Centres share price snapshot

The Vicinity Centres share price has fallen short of the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a decline of 3%.

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The post Vicinity Centres FY26: Profit up, distributions rise as premium focus delivers appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Downer EDI Ltd (ASX: DOW) share price is in focus today after the company reported a 51% jump in statutory net profit and a 17% lift in fully franked dividends for the 2026 financial year.

What did Downer EDI report?

• Statutory NPAT rose 51.2% to $225.4 million
• Underlying NPATA increased 9.8% to $306.7 million
• Underlying EBITA grew 6.1% to $502.9 million, with a margin uplift to 5.1%
• Overall revenue fell 7.5% to $9.74 billion
• Total fully franked dividend increased 17.3% to 29.2 cents per share
• Cash conversion remained strong at 91.1%, exceeding targets

What else do investors need to know?

Downer’s financial year emphasised improving margins by focusing on higher quality, more resilient contracts across core infrastructure and services. While revenue dipped due to portfolio simplification and foreign exchange impacts, profit and cash performance improved on the back of disciplined execution, cost control and project delivery.

Work-in-hand rose 10% to a record $38.5 billion, backed by solid new wins in defence, water, renewables, and government infrastructure. The company also continued its on-market share buy-back program, having repurchased approximately $96.5 million of shares by year end.

What did Downer EDI management say?

Peter Tompkins, Managing Director and Chief Executive Officer, said:

FY26 reflects the continued benefits of our focus on operational discipline, cost leadership, revenue quality and consistent execution.

Over the past three years, we have built a more focused and resilient business, improving margins, strengthening the balance sheet and enhancing the quality of our earnings.

What’s next for Downer EDI?

Looking to FY27, Downer is targeting further revenue and earnings growth and continued margin improvement. The company expects a stronger second half as new contracts ramp up and volumes improve in road services and facilities.

Management remains upbeat about the medium-term outlook, highlighting growth opportunities in energy transition, data centres, defence, and transport infrastructure. Downer aims to maintain strong market positions while delivering steady returns to shareholders.

Downer EDI share price snapshot

The Downer EDI share price has outperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a gain of around 7.5%.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The MA Financial Group Ltd (ASX: MAF) share price is in focus after the company reported record first half underlying revenue of $230.1 million, up 41% on 1H25, and a strong 45% lift in underlying earnings per share (EPS) excluding large notable items.

What did MA Financial report?

• Underlying revenue rose 41% to $230.1 million (up 31% to $214.6 million excluding large notable items)
• Underlying NPAT (ex LNI) increased 59% to $35.9 million
• Underlying EBITDA (ex LNI) jumped 43% to $68.2 million
• Assets under management surged 44% to $15.5 billion
• Fully franked interim dividend lifted to 8 cents per share, up from 6 cents per share in 1H25
• Finsure managed loans climbed 25% to $193 billion and MA Money loan book soared 127% to $7.5 billion

What else do investors need to know?

MA Financial’s results showcased strong momentum across all divisions, with particular strength in Asset Management and Lending & Technology. Recurring revenue reached a record 72% of underlying revenue (ex LNI), improving the quality and predictability of earnings.

The company has already made a strong start to the second half, with accelerating fund inflows, new real estate and hospitality transactions, and MA Money’s loan book surpassing $8 billion post-balance date. Strategic investment in extending the platform into New Zealand has yielded early results, with New Zealand AUM crossing NZ$100 million.

What did MA Financial management say?

Joint CEOs Julian Biggins and Christopher Wyke said:

The Group’s performance in 1H26 demonstrates the scalability of our diversified business model. Delivering 45% underlying earnings growth during a period of significant market volatility and macroeconomic headwinds is a strong result. Our Assets under Management and Loan books continue to demonstrate good growth and transactional activity is rebounding from cyclical lows to benefit the business. We’ve had a very strong start to 2H26 and believe that the Group is in great shape to deliver strong earnings growth into the future. This is demonstrated by the release today of our new three-year strategic targets which we believe are achievable given the scalable business platform we now have in place.

What’s next for MA Financial?

Looking ahead, MA Financial is targeting further growth across all business segments, underpinned by its updated three-year strategic targets to December 2029. Management expects underlying EPS excluding notable items to be materially higher in FY26 compared to FY25, with earnings skewed to the second half.

The group is aiming for continued growth in funds under management, lending, and corporate advisory fees, with plans to expand distribution capabilities in the US and New Zealand and build further brand awareness. Management notes its EBITDA margin initiatives are on track, and the business is well positioned to create value for shareholders.

MA Financial share price snapshot

Over the past 12 months, MA Financial shares have declined 27%, trailing the All Ordinaries Index (ASX: XAO).

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ma Financial Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.