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Lendlease Delivers Double Digit Earnings Growth

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Lendlease made a 12 per cent jump in profits in their recently released half year results, revealing that the company now sits on a nest egg of approximately $394.8 million before tax.
Key results

  • Return on equity of 13.7 per cent, upper end of the 10 – 14 per cent target range
  • Interim unfranked distribution of 33 cents per stapled security
  • Capital solutions secured across four office developments
  • Total residential pre-sales of $5.7 billion
  • Engineering activity accelerating, on track for larger earnings contribution
  • Funds Under Management (FUM) of $24.7 billion, up 12 per cent
  • Strong balance sheet with gearing of 5.1 per cent3 and available liquidity of $3.3 billion.
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Article originally posted at: https://theurbandeveloper.com/articles/lendlease-delivers-double-digit-earnings-growth