Lendlease's European Construction business' revenue boosted by 10 per cent
24 August 2015

Lendlease's Construction business has reported a strong upswing in revenue as its pipeline of work opportunities continues to grow across Europe.
Lendlease Group reported solid full year results to the Australian Securities Exchange this morning, reinforced by a strong performance in its Europe region.
Revenue jumped 10 per cent to £667 (A$1,258) million for the European Construction arm of the global infrastructure and property company.
Drawing on its strategy to take a disciplined approach to the execution of projects as well as maintaining strong, lasting relationships with major clients, Lendlease's European Construction arm has secured £830 (A$1,566) million of new work in the 12 months to 30 June 2015 - up 120 per cent on last year.
Lendlease's Construction business has made significant progress on its major projects, including the completion of its first 235 homes at Trafalgar Place in Elephant & Castle, handover of the acclaimed refurbishment of the National Theatre, and start of construction on the first office building at The International Quarter at Queen Elizabeth Olympic Park.
It has also won a string of major contracts, including the c.£200 million Rathbone Square, off Oxford Street, the c.£160 million North Wales Prison in Wrexham and the c.£50m first phase of Stanhope's Ruskin Square development in Croydon, as well as a series of school frameworks in Scotland. Lendlease also continues to work closely with a number of other longstanding clients including L&G and Blackstone.
Neil Martin, Lendlease's Managing Director of Construction, said: "Whilst market conditions have been challenging over the past few years, our strategy of pursuing a disciplined approach to work winning is now paying dividends as today's results have shown. We have a strong, stable management team which is focused on securing and executing our robust and varied pipeline.

"Our extensive pipeline positions us for continued growth, bolstered by our strong balance sheet and low-risk profile."

Ends
For further information, please contact Duncan Pelham via duncan.pelham@lendlease.com or 07740407068

NOTES TO EDITORS:

About Lendlease

  1. Lendlease is a leading international property and infrastructure group. In the UK, it is the only fully integrated retail, residential and commercial provider delivering end-to-end property solutions. The company has core capabilities in development, investment management, construction, asset and property management.
  2. Lendlease is behind some of London's largest and most exciting mixed-use regeneration projects such as Elephant & Castle and The International Quarter.
  3. Lendlease is listed on the Australian Securities Exchange and operates in four key regions - Australia, Asia, Americas and Europe. The group has more than 12,400 employees worldwide.
  4. Lendlease is listed on the Dow Jones World Sustainability Index (DJSI) and in 2012 ranked in the top eight per cent of property companies, achieving scores of 90 per cent or higher in a range of categories.
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