Developer Lendlease's losses widen, points to UK residential law

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 66%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

:Australian developer Lendlease Group on Monday posted growing losses for the year, reflecting tough trading conditions and lower valuations for its properties coupled with the impact of legislation in the United Kingdom.Lendlease had earlier signed a contract and had taken an A$295 million ($191.69 million)

:Australian developer Lendlease Group on Monday posted growing losses for the year, reflecting tough trading conditions and lower valuations for its properties coupled with the impact of legislation in the United Kingdom.

"Our financial performance was impacted by a number of issues related to prior projects and activities," said Managing Director Tony Lombardo. Its statutory loss after tax for the year came in at A$232 million, compared to A$99 million reported a year ago, the company said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Developer Lendlease reports wider loss, points to UK residential lawAustralian developer Lendlease Group on Monday posted a more than 134 per cent fall in its annual loss, reflecting tough trading conditions and lower valuations for its properties coupled with impact from legislation in the United Kingdom.Lendlease had earlier signed a contract and had taken an A$295 mill
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »