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Stockland’s first-half net profit has dipped 2.6 per cent to $684 million, while its funds from operations for the period has risen 18.2 per cent to $436 million.

The diversified property group’s revenue for the six months to December 31 has come in 14.3 per cent higher at $1.34 billion.

The company says it will pay an unfranked interim distribution of 13 cents a share, up from 12.6 cents a year ago.