LendLease share price rallies, selling engineering

Lend Lease (LLC) +10.86%; A nice bump in share price today thanks to a beat at the EBITDA line and a lack of any material surprises. The ‘core’ business is performing well while the engineering business, which has now been deemed, non-core continues to struggle. They talked about visibility in earnings and a substantial ‘near $100bn development pipeline’. The core business did profit after tax of $804m while the non-core business which includes engineering & services lost $337m,  they say a sale is now underway for this business – something the market clearly took well.

Lead Lease (LLC) Chart

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