Lend Lease FY profit jumps
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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.
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