First Impression: Lendlease Group-LLC-FY16 Result

Bell Potter


Net operating cash flow $853m. Gearing at 6.5% vs 1H16 gearing of 12.1% as a result of strong 2H16 operating cash flow despite $3bn of operating cash invested in development | Residential settlements of 4,790 units, up 7%.” Settled over 1,200 apartments with non-settlements at less than 1% vs historical average of ~ 3% | Construction backlog revenue up 20% to $20.7 billion.

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Bell Potter

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

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