Australia's Lend Lease sells Bluewater mall, sees earnings boost

SYDNEY, June 25 Tue Jun 24, 2014 7:24pm EDT

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SYDNEY, June 25 (Reuters) - Australian property company Lend Lease Corp said on Wednesday it had sold its interest in Bluewater Shopping Centre to Land Securities Group PLC for 696 million pounds ($1.2 billion), boosting its 2014 earnings by more than 45 percent.

Lend Lease said it now expected a net profit of A$810 million to A$830 million ($761 million to $780 million) for the year and anticipated paying out 50 percent of net profits in unfranked dividends.

Consensus forecasts from Thomson Reuters I/B/E/S had pegged net income expectations at around A$536 million for FY 2014. ($1 = 0.5956 British Pounds) ($1 = 1.0639 Australian Dollars) (Reporting by Lincoln Feast; Editing by Stephen Coates)

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