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Lendlease’s Earnings Visibility Shrouded
Jul 07 2021
Successful cost reductions and divestments could provide desperately needed visibility to Lendlease’s value following last week’s profit warning, but brokers want greater clarity over future earnings drivers
-Brokers suspect there’s more negative news ahead for Lendlease
-Clarity needed on future operational performance
-Review expected to target major cost savings
-Potential for re-rating over medium term
By Mark Story
Given that Lendlease Group’s ((LLC)) first half to December 2020 core $205m net profit after tax was below consensus expectations of $213m, the global property developer’s profit warning issued on 1st July shouldn’t have been too much of a shock for the market.
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