(Recasts on net profit result, adds CEO quotes)
SYDNEY, Feb 10 (Reuters) - Australian property developer Stockland Corp Ltd SGP.AX said on Wednesday first-half net profit jumped 51 percent as it raised the book value of its shopping centre assets, saying the result proved the country's economy is in good health.
First-half net profit came in at A$696 million for the six months to Dec. 31. The company added A$433 million to the value of its commercial buildings, mostly shopping centres, following a series of refurbishments.
Without the mark-up on commercial property, interim net profit rose 8.1 percent as residential sales pushed up revenue by 19 percent to A$1.6 billion. The company tweaked its interim dividend to 12.2 Australian cents, from 12 cents.
"The strong performance of our shopping centre portfolio is a good pointer for the Australian economy in general," Stockland Chief Executive Officer Mark Steinert told Reuters in a telephone interview.
Steinert added that while the company expects house price growth to moderate throughout the most densely populated part of Australia, the south east coast, it would continue to be supported by high employment and immigration, and low interest rates and supply.
Stockland shares fell 2.7 percent on Tuesday, in line with broader market.