Lend Lease Profit Rises 12 per cent

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Thursday, February 18th, 2016
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A flurry of projects has helped property developer and contractor Lend Lease lift first half profit by 12 per cent to $353.8 million.

The result for the six months to December 31 was driven by a 25 per cent jump in revenue to $7.34 billion. Net profit for the same period last year was $315.6 million, on revenue of $5.9 billion.

Chief executive Steve McCann said the company’s development pipeline had grown to $46.6 billion, with approximately 75 per cent of projects related to urbanisation.

“During the half we had strong sales momentum at residential projects at Victoria Harbour in Melbourne and Elephant & Castle in London and we secured planning approvals for a new urban regeneration project in Chicago,” Mr McCann said in a statement..

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