i loved this bit 7. Radically improve the transparency and...

i loved this bit

7. Radically improve the transparency and accessibility of your financial statements and public
disclosures. Lendlease is one of the most impenetrable companies to understand from outside of
any company in the ASX. Cash flows are near impossible to reconcile with profits – there is a
$4.6bn gap between statutory profits and free cash flow since FY14. This translates inevitably into
less investor appetite to buy your securities. We suggest you disclose, for example, actual dollar
cost savings from headcount reductions, gross and net, and where and when they show up in the
P&L. A large proportion is said to benefit future development margins, but this is completely
unverifiable, and in the meantime corporate costs in P&L did not decrease in 1H24. We suggest
you disclose what total group overhead is, before allocations. We suggest you disclose the actual
hurdles at which management incentives kick in. These matters are not