- Australia-based contractor Lendlease said on Thursday that it anticipates a main income for fiscal yr 2021 of concerning $375 million and $410 million in Australian pounds ($281 million and $307 million USD) right after taxes, which is down from an earlier market consensus of concerning AU$469 million and AU$525 million.
- CEO Tony Lombardo spoke about the projection on a connect with with buyers, blaming most of the minimize on the coronavirus. “COVID-19 proceeds to effects the business negatively,” he said.
- Nevertheless, Lendlease’s harmony sheet and liquidity posture keep on being potent, the organization said in a push release. Thursday’s announcement marked the second time that the organization has downgraded its income advice in the previous two decades.
Lombardo said on the connect with that the pandemic tremendously impacted the firm’s profitability, particularly on assignments in London. He took above as CEO on June 1 when