Lend Lease FY profit jumps

New joint ventures help boost profit, group tips earnings growth over next 3 years.

Lend Lease (LLC) is tipping earnings growth over the next three years after recording a solid jump in full year net profit but is warning on a weakening domestic construction market and challenging macro economic conditions. 

Net profit grew 10% to $551.6 million for the year, from $501.4 million in the previous corresponding period, on the back of earnings from new joint ventures and two new commercial tower at Barangaroo South.  

Operating profit after tax increased by 9% to $553 million, above analyst forecasts for around $545.6 million.

Revenues rose 5.7% rise to $12.2 billion in the period, from $11.54 billion. 

It will pay an unfranked final dividend of 20 cents.