November 8, 2018 / 10:45 PM / 12 days ago

Australia's LendLease notes further underperformance of unit

Nov 9 (Reuters) - LendLease Group on Friday said it has made a provision of A$350 million ($254.00 million) after tax to account for further underperformance of its Engineering and Services business.

The Australian developer said it made the provision for its 2019 half-year results, citing lower productivity in its post tunnelling phases of Sydney’s NorthConnex project among other reasons. ($1 = 1.3780 Australian dollars) (Reporting by Nikhil Kurian Nainan in Bengaluru)

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