Clarke said Bovis was not a high-risk business. He said that only half its earning were from fixed-price contracts, where the contractor takes a risk on delivering to a price, and where some costs are locked in before contract prices are agreed.
Clarke said having in-house construction expertise lessened the risks to Lend Lease's development schemes.
He also noted that Bovis had long-term earning streams through PFI operations. In addition he pointed to a steady increase in profitability since Lend Lease bought Bovis in 1999.
Lend Lease's bid for General Property Trust, due to be formally submitted in August, has led to predictions that Bovis would not fit into the enlarged group.