The Lendlease history of one-offs / abnormal items is a sight to behold. Almost like they are not non-recurring.
Shrinking to greatness, always a good strategy…(!)
Which is well, sort of true, as exiting the poorly performing engineering business was undoubtedly wise.
The cashflow generation profile would make CIMIC blush.
The brokers see a potential recovery, with 24 month blended forward sales estimates rising relative to BF1, as it does for the various earnings measures.
And the stock is very, very cheap.
…and that enormous pipeline begins to translate into work done.
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