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‘Broken business model’: Wylie slams Lendlease

While CEO Tony Lombardo pleads for patience, a veteran investor wants to see more radical change after Monday’s big fall.

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Veteran dealmaker and investor John Wylie has run out of patience with property giant Lendlease.

The stock plunged 14.5 per cent on Monday after the company revealed a huge December half profit miss and downgrading of its full-year return on equity (ROE) forecast.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
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    Original URL: https://www.afr.com/chanticleer/broken-business-model-wylie-slams-lendlease-20240219-p5f64w