Lend Lease Group : Lend Lease announces earnings expectations for financial year 2012
07/01/2012| 09:09pm US/Eastern
Lend Lease today announced that the Group expects to
achieve operating profit after tax for the year ended 30 June
2012 of between A$485 million and A$505 million, excluding
any profits from Barangaroo South.
Lend Lease Group Chief Executive Officer and Managing
Director, Mr Steve McCann said that
today's earnings update reflects the continued success
achieved by the Group from focused execution of the Group
strategy and successful integration of the infrastructure
business in financial year 2012.
"The Group has a clear strategy to achieve a balanced
and diversified portfolio and to continue to recycle capital
from property assets and non-core businesses to invest in
higher yielding opportunities. We are very pleased with a
strong expected result in such a difficult market
environment," said Mr McCann.
"Since Lend Lease's investor day on 16 May 2012, the
Group has made announcements including lease agreements with
tenants for the first two commercial buildings at Barangaroo
South, a number of construction project wins, the launch of
new funds and successful recycling of capital.
For further information, please contact:
Group Executive - Investor Relations
Tel: 029236 6464
Group Media & External Communications Manager
Tel: 02 9237 5034