Australia's Lendlease falls on potential $59 million earnings hit on land dispute

Lendlease

09/04/2025 03:19

** Shares of Australia's Lendlease Group LLC.AX fall as much as 5.1% to A$5.220, their lowest levels since March 13, 2009

** After market hours on Tuesday, the real estate co said it might face a A$100 million ($59.95 million) hit to its earnings this full year as a result of a dispute

** Dispute about development rights to land parcel next to its Figtree Hill Estate in Sydney

** Judgment was handed down that does not support Lendlease's ability to exercise its contractual rights over

land parcels - LLC

** Adds co will appeal the court's decision

** Stock has fallen 11.7% this year, as of last close

($1 = 1.6681 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com))