News: LLC Lendlease Group Says ACCC Revised Review Date For A$1.3 Bln Sale Of 12 Communities...

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    May 31 (Reuters) - LendLease Group (LLC) :

    • SALE OF COMMUNITIES - UPDATED TIMING OF ACCC REVIEW
    • NOTES ACCC HAS TODAY PROVIDED AN UPDATE TO TIMING OF ITS REVIEW OF A$1.3 BLN SALE OF 12 COMMUNITIES PROJECTS
    • GROUP GEARING FOR FY24 SEEN TO BE AT OR AROUND UPPER END OF 10-20% RANGE, ON BASIS COMPLETION OF TRANSACTION DOES NOT OCCUR IN FY24
    • ON BASIS COMPLETION DOES NOT OCCUR IN FY24, GROUP GEARING FOR FY24 EXPECTED TO BE AT OR AROUND UPPER END OF 10-20% TARGET RANGE
    • ON BASIS COMPLETION DOES NOT OCCUR IN FY24, FY24 GROUP GUIDANCE FOR RETURN ON EQUITY ANTICIPATED TO BE IMPACTED BY 2%
    • EXPECTED IMPACT TO FY24 ROE EQUATES TO ABOUT A$450 MLN OF CORE OPERATING PROFIT AFTER TAX (OPAT) REDUCING TO ABOUT A$305 MLN
    • ALL CASH PROCEEDS ANTICIPATED TO BE RECEIVED IN FY25, WITH MAJORITY IN 1H FY25, FROM TRANSACTION
    • DOWNWARD IMPACT ON FY24 OPAT REFLECTS DELAY TO ANTICIPATED SALE PROFITS OF A$130 TO A$160 MLN, NOW ANTICIPATED IN 1H FY25

    (([email protected];))

 
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