The developer, builder and investor said it is now a leaner company, but it will take a year for it to hit the return targets it has set for itself.
, and Lendlease said on Monday after an improvement over the six months to June, it had “solid momentum” going into the current financial year.So-called core profit leapt to $248 million in the second half from $28 million in the first half and the value of development commencements increased to $4.4 billion from $1.5 billion.taking over leadership of the company last year
For the current year, Lendlease said the return on invested capital in its investments division would be in the range of 6-7.5 per cent, including a $73 million pre-tax contribution from the sale of 13 per cent of its US Military Housing asset management income stream.
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