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Lend Lease Group (ASX:LLC) does not expect a material impact to its annual earnings despite the Victorian government suspending the East West Link project.The Australian property developer is part of the East West Connect consortium which was planning to work on the road tunnel project.The consortium and Victorian Government have since struck a deal with reports the government will pay $399 million to the consortium as a resolution.
Lend Lease advises the agreement will lower its construction backlog revenue by about $1.4 billion and release $115 million of the company’s committed equity to the project companies.Lend Lease Group reported a net profit of $315.3 million in the first half of the 2015 financial year.
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Last
$5.44 |
Change
-0.010(0.18%) |
Mkt cap ! $3.754B | |||
| Open | High | Low | Value | Volume |
| $5.45 | $5.47 | $5.44 | $5.763M | 1.053M |
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| No. | Vol. | Price($) |
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| 1 | 17998 | $5.44 |
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| Price($) | Vol. | No. |
|---|---|---|
| $5.45 | 4414 | 1 |
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| LLC (ASX) Chart |