They historically have actually delivered great product, said Jason Kururangi, a senior research analyst at Milford Asset Management.
I do think they need to deliver more consistently. That might mean they need to restructure how the business thinks about development.
Earnings improvement
Net profit after tax of $377 million was in line with the companys guidance. But even as it reported an improvement in earnings for the 12 months to June 2021 largely due to divesting its loss-making engineering and services businesses that affected profit a year earlier Lendlease suffered from the pandemic, Mr Lombardo said.
Residential projects such as Londons Elephant Park and One Sydney Harbour at Barangaroo Central suffered from weaker sales and…
Read the full article at: https://www.afr.com/property/commercial/lendlease-promises-reset-warns-of-a-tough-year-20210815-p58izb