LendLease (ASX:LLC) expect a full year loss of up to $340 million

Company News

by Rachael Jones

LendLease (ASX:LLC) says total unaudited statutory loss expected to be in the range of $230 to $340 million after tax.

core profit after tax is expected to be in the range of $50 million to $150 million reflecting the impact of Covid-19 impacts across the Group.

This includes the impact of reductions in investment valuations in H2 FY20 in the range of $130 - $160 million after tax.

Development joint venture to deliver the first residential tower at One Sydney Harbour anticipated to contribute approximately $100 million to FY21 profit after tax

They won't pay a final dividend.

Shares in LendLease (ASX:LLC) are trading 0.65 per cent lower at $12.29.