Very surprised of no previous thread for LLC!
Thoughts on the future share price ?
Lend Lease Profit Jumps 49% on Development Contracts (Update4)
By Simeon Bennett
Feb. 28 (Bloomberg) -- Lend Lease Corp., builder of London's 2012 Olympic Village, said first-half profit surged 49 percent on income from the construction of homes for the U.S. military and urban developments in Australia and Singapore.
Net income rose to A$259.6 million ($244 million), or 64.7 cents a share, in the six months ended Dec. 31, from A$174.7 million, or 43.7 cents, a year earlier, the Sydney-based company said today. Sales grew 9.7 percent to A$7.6 billion.
Chief Executive Officer Greg Clarke is committed to more than A$60 billion of construction projects spanning six continents, including deals with the U.S. Air Force and London's Elephant & Castle district. Lend Lease today forecast full-year earnings growth will be below its 10 percent annual target. It expects to exceed that rate over a five-year growth plan.
``It has got a lot of long timeframe projects which will still be there when the economic environment improves,'' said Craig Young, who manages the equivalent of $5.1 billion at Tyndall Australia Investment Management in Sydney, including Lend Lease shares. ``It has got diversity such that no single region is going to damage it enormously.''
Lend Lease shares fell 20 cents, or 1.4 percent, to A$14.50 on the Australian Stock Exchange, reversing a 4.9 percent rise.