Lend Lease upbeat on outlook
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Lend Lease Group (LLC) says it is well positioned for the year ahead with a substantial pipeline of development and construction projects, and has welcomed the new Coalition government's focus on infrastructure.
Addressing shareholders at the group's annual general meeting, chief executive officer Steve McCann said the group had a strong backlog of work, a strong balance sheet and access to third party capital to assist funding the delivery of the pipeline.
He said the focus now needed to be high quality execution.
"We do have a very significant embedded value in the projects we have secured and we need to work diligently to maximise that value," he said.
"Our diversity across various businesses and markets has proven that we are resilient to changing conditions in our various markets and we will continue to focus on diversifying our earnings through more stable sources of income as well as some offshore development opportunities."
Lend Lease chairman David Crawford said the group was encouraged by the election of the coalition government on a platform of infrastructure growth, "as this means a strong focus on major projects and on the funding model for those projects - which makes it a very attractive space in which to play".
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