Lend Lease Group (ASX:LLC) has reported a 3.8 per cent fall in its first half net profit, coming in at $217.8 million.
The infrastructure group’s revenue rose 34 per cent in the last six months of 2011 and the company says its significant backlog, development pipeline and access to capital provide a strong platform for future earnings.
However Lend Lease remains cautious in the medium term, explaining that consumer sentiment continues to negatively impact the residential market in Australia.
An interim unfranked dividend of 16 cents per security has been declared, down from 20 cents declared the year before.
