SYDNEY, April 30 Stockland Corp Ltd,
Australia's second-largest property group, said on Wednesday it
expected to achieve 6 percent of earnings growth for the 2014
financial year, at the top of its guidance range, supported by
strong residential business.
The positive outlook in its quarterly update came a week
after Stockland's all-script bid for smaller peer Australand
Property Group was rejected, and may add pressure on
the target company.
"If price expectations are too high we are quite prepared to
sell down our holding and realise a profit," Stockland managing
director and chief executive Mark Steinert said in a statement.
(Reporting by Maggie Lu Yueyang; Editing by Paul Tait)