Lendlease hunkers down amid headwinds, seeks ‘selective’ growth opportunities
Justin Gabbani, Asia CEO of Lendlease Group, eyes opportunities to deploy partnered funds for data centres and life science builds
THE year 2023 was meant to be a special one for Lendlease Group, as the Australian Securities Exchange-listed construction and real estate company celebrates 50 years since it expanded its operations into Singapore. But the group has found little reason for cheer.
Lendlease reported a statutory loss after tax of A$232 million (S$201 million) for the full year ended June, deepening from a loss of A$99 million the year before.
This was mainly due to the recording of a A$295 million provision on a retrospective, industry-wide action by the United Kingdom government.
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