Lendlease has cut its earnings guidance for the 2024 financial year by about one third to about $305 million after the competition watchdog delayed its review of the developer’s proposed sale of housing estates.
The earnings downgrade is an early blow for Lendlease’s radical reset of its vast development business through a $4.5 billion divestment program announced by chief Tony Lombardo last week.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
