A few months is a long time for a CEO – just ask Lendlease, Suncorp or Ampol, businesses changing rapidly. Here is Chanticleer’s take on the day’s earnings calls.
It’s three months since Lendlease chief executive Tony Lombardo brought the property giant’s long-running battle with activist shareholders to a head by announcingOf the $2.8 billion of assets Lendlease wants to sell before June 2025, Lombardo has announced $1.9 billion of sales, including
Lombardo also points out that bond yields have fallen by about 0.8 per cent, which helps both reduce Lendlease’s financing burden and encourages investors and capital partners to look at projects.Importantly, Lombardo is also showing he can walk and chew gum at the same time.
There’s a long way to go, but Lendlease investors will be pleased to have some half-decent news for a change.If Australia wants a decent, sustainable aviation fuel industry, you would think Ampol and/or Viva Energy will be at the heart of it. First, Westpac’s profit of $1.8 billion came in about 7 per cent better than the market expected after the bank reduced its bad debt charge, having brought its economic assumptions more in line with peers. As we saw with Commonwealth Bank and National Australia Bank last week, loan arrears are rising but from very low levels. Second, Westpac’s revenue rose 1 per cent for the quarter, whereas revenues at CBA and NAB fell by the same amount.
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