Developer Lendlease reports wider loss, points to UK residential law
on Monday posted growing losses for the year, reflecting tough trading conditions and lower valuations for its properties coupled with the impact of legislation in the United Kingdom.
"Our financial performance was impacted by a number of issues related to prior projects and activities," said Managing Director Tony Lombardo. Its statutory loss after tax for the year came in at A$232 million, compared to A$99 million reported a year ago, the company said.
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