MENU

How Lendlease Group posted a strong interim profit report

Shares in international property and infrastructure giant Lendlease Group (ASX: LLC) are back on the incline after dumping down to $15.57 in mid-February, with prices rising 13% since then to sit at $17.92 at the time of writing.

Lendlease posted strong half-year results to kick off March with NPAT up 8% to $426 million and FY18 expected to meet expectations.

The half-year report showed issues within the construction division amounting to a $26 million loss before interest, tax, depreciation and amortisation during the six months to December, but the knock appears to be isolated and one-off as the 60-year-old company maintains an extensive project pipeline and strong fundamentals.

Lendlease announced a buyback plan for the next 12 months of more than 32 million shares up to $500 million in value – this represents close to 5% of shares on issue at the current trading price – and an interim dividend of 34c per share, up 3% on the previous corresponding period.

The Lendlease share price has generally tracked upwards in the last 5 years, with yesterday’s results likely to impact shareholder sentiment favourably.

The Richest Man Alive Invests in This

The richest man in the world has just launched a $100 million investment fund and investors who don't take note could miss out on a massive opportunity.

And it isn't by sheer luck. He did it by looking to the future and investing in the big ideas of tomorrow.

This could be your chance to get in on the ground floor!

Click here to discover more!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.