Lend Lease managing director and CEO, Greg Clarke, said the Company maintained strong momentum in earnings growth, while significantly expanding its pipeline of projects which will deliver long term earnings streams from its Development, Construction and Investment Management businesses.

“Net operating earnings exceeded market expectations despite the provision made in the UK construction operations during the first half and the tough residential market in Australia. This demonstrates the resilience of the Group’s diversified operations. Actus Lend Lease in the US, the Investment Management business and Bovis Lend Lease in Asia Pacific all made stand-out contributions and our Retail & Communities business secured a number of major new projects.”

He added:

“Lend Lease enjoys very strong operating cash flows and is well placed to deliver continued earnings and dividend growth to drive shareholder value over the medium to long term.”