Scentre Group (ASX:SCG) has seen a notable increase in their shares, seeing a rise as high as 5.1% to A$2.775, the highest it’s been since August 16.

If these gains hold, this will make it the best day for the company since July 27.

The real estate services provider reported a HY net operating income of A$971.9 million, a 10% increase from the previous year.

The company also anticipates higher distributions of at least 16.50 Australian cents per security for 2023, which indicates a minimum 4.8% growth for the year.

Despite these positive indicators, Scentre’s stock has been down by 8.3% this year, as of the last close.

Scentre Group is an Australia-based company that specializes in owning, operating and developing a portfolio of shopping centers.