Vicinity Centres Stapled Securities (CNRAF) Q2 2026 Earnings Call Transcript

SA Transcripts158.46K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Vicinity Centres Stapled Securities (CNRAF) Q2 2026 Earnings Call February 17, 2026 7:30 PM EST Company Participants Peter Huddle - CEO & MDAdrian Chye - Chief Financial Officer Conference Call Participants Solomon Zhang - UBS Investment Bank, Research DivisionDaniel Lees - Jarden Limited, Research DivisionSimon Chan - Morgan Stanley, Research DivisionHoward Penny - Citigroup Inc., Research DivisionAndrew Dodds - Jefferies LLC, Research DivisionJames Druce - CLSA Limited, Research DivisionDavid Pobucky - Macquarie ResearchRichard Jones - JPMorgan Chase & Co, Research DivisionAdam Calvetti - BofA Securities, Research Division Presentation Operator Thank you for standing by, and welcome to Vicinity Centres FY '26 Interim Results. [Operator Instructions] I'd now like to hand the conference over to Mr. Peter Huddle, CEO and Managing Director. Peter HuddleCEO & MD Good morning, and thank you for joining us for Vicinity Centres results call for the 6 months ended 31st of December 2025. Joining me on today's call is Adrian Chye, our Chief Financial Officer. Before we begin, I'd like to acknowledge the traditional custodians on the land on which we meet today and pay my respects to their elders past and present. I extend that respect to the Aboriginal and Torres Strait Islander peoples on the call today. I will start today's presentation on Slide 5, owing to the continued success of our strategic execution, disciplined focus on delivering our immediate, medium and long-term growth priorities and amid a supportive retail property sector fundamentals, I'm pleased to report that we have had a strong start to FY '26. Touching on the results themselves. Vicinity delivered a net profit after tax of $805.6 million for the 6 months, up by more than 60%, reflecting growth from funds from operation, or FFO, and a meaningful uplift in portfolio valuations. At 3.7%, comparable net property income growth reflects the continued strength of our