Final dividend of 9.5 AU centsshare
Profit hit from ACCC delay in sale review
Shares slide as much as 2.7

Aug 19 Reuters Australia39;s Lendlease on Monday reported a wider annual loss as the real estate developer grappled with the impact of an operational strategy shift and delays in reviewing the sale of community projects.

Lendlease, the country39;s largest property developer, builder and real estate investor, is looking to retreat from its overseas construction business, freeing up upto A4.5 billion 3.01 billion in capital in the process.

The firm had in May warned that its annual core earnings would take a hit due to the Australian competition regulator delaying its review on a sale of community projects to peer Stockland Corp by over two months in an A1.3 billion deal.

The country39;s largest property developer reported a full year loss after tax attributable of A1.50 billion 1.00 billion as compared to a loss of A232 million a year ago.

Our results for FY24 reflected challenging business conditions and the early actions from our refreshed strategy, chief executive Tony Lombardo said, adding that the company has realised further cost savings as a result of a simplified management structure.

Lendlease till end of the year has sold A1.9 billion in assets as part of its targeted A2.8 billion by June 2025.

As part of the overhaul, Lendlease has already divested its U.S. construction business including winding down the West Coast and Central operations and has…