Citi upbeat on Australia's LendLease despite swing to HY loss

Lendlease

23/02/2026 20:54

** Analysts at Citi say one of the positives in LendLease Group's LLC.AX HY results was resilience of core IDC business

** Property developer swung to a first-half loss on Monday of A$318 million ($224.25 million)

** However, co expects IDC earnings to strengthen through H2 and into fiscal 2027

** While there could be some timing risk to non-core sales, we believe this is likely to be completed over next 12 months given number of processes underway - Citi

** YTD, stock down 18.3%, as of last close

($1 = 1.4180 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)

 ((shivangi.lahiri@thomsonreuters.com))