April 30, 2014 / 12:20 AM / 3 years ago

Australia's Stockland expects 6 pct earnings growth for FY 2014

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SYDNEY, April 30 (Reuters) - 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)

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