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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLendlease global CEO: We're 90% through our 'cost-restructuring program'Tony Lombardo, global CEO of the construction and real estate company, discusses its results and the performance of its stock.
Persons: Tony Lombardo
Lendlease CEO discusses its 'five-year turnaround plan'
  + stars: | 2023-08-14 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLendlease CEO discusses its 'five-year turnaround plan'Tony Lombardo, global CEO of the construction and real estate company, discusses its earnings, its outlook and its "five-year turnaround plan."
Persons: Tony Lombardo
Lendlease had earlier signed a contract and had taken an A$295 million ($191.69 million) provision against potential liabilities for its properties in the UK because of industry-wide action by the country's government. The company attributed the results to UK legislation that forced it to shell out millions to remediate residential properties in the country. 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. The company however reported 9% growth in its full-year funds under management to A$48.3 billion and continues to expect further growth. ($1 = 1.5389 Australian dollars)Reporting by Rishav Chatterjee in Bengaluru; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.
Persons: Lendlease, Tony Lombardo, Rishav Chatterjee, Sonali Paul Organizations: Lendlease, Thomson Locations: United Kingdom, Bengaluru
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAustralia's silver generation is after 'five-star' retirement homes, says real estate developerAccording to the World Health Organization, one in six people will be aged 60 and above by 2030, and that number will reach 2.1 billion by 2050. CNBC's Christine Tan speaks to Tony Lombardo, Global CEO of Lendlease, about how his company is capitalizing on this growing demographic.
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