Road jobs blow hole in Lendlease numbers

By Dave Rogers2019-08-19T08:19:00

Losses at engineering arm sees firm’s profit nosedive by more than 40%

Lendlease said huge losses at its up-for-sale engineering business helped send the group’s pre-tax profit nosediving by more than a third last year.

The firm, which is listed on the Australian stock exchange, said it had booked a A$500m (£277m) hit at the division, which also includes its services business, following problems on three road schemes in Australia – a tunnel scheme in Sydney called North Connex, a road widening job in Brisbane called Kingsford Smith Drive and a motorway job on the outskirts of the same city called Gateway Upgrade North.

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