Lendlease posts $99m loss, targets 2024 to reap benefits of business shake-up

 The massive shake-up of Lendlease Group’s (ASX: LLC) business has taken its toll on the FY22 bottom line, with the company expecting the pain to continue into the current year before hitting its straps in 2024.

The property giant posted a bottom-line loss of $99 million for the full year, but notes that its performance improved dramatically in the second half as core profit jumped from $28 million in the first six months of the year to $248 million in the second half.

Lendlease, under the leadership of Tony Lombardo who replaced long-time CEO Steve McCann last year, has mapped out a simplification strategy that will see the business exit non-core developments and focus on emerging opportunities such as build-to-rent projects while shoring up its funds management operations.

Read More: https://www.businessnewsaustralia.com/articles/lendlease-posts--99m-loss--targets-2024-to-reap-benefits-of-business-shake-up.html




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