Lendlease Finance rebounds in H2’23, revenue more than doubles
Total assets climbed 6.4% YoY.
Lendlease Finance rebounded in the second half of 2023 compared to the previous year, with profits reaching $569,000 compared to the $8.1b loss in 2022.
Finance revenue jumps more than half (50.9%) to $80.3b in the July to December period. However, finance costs also grew 50.8% to $71.9b. Likewise, its net finance revenue jumped 51.2% to $8.41b.
ALSO READ: Lendlease Global Commercial REIT’s NPI soars 22.2% YoY to $93.4m in 1H24
On the other hand, expenses grew larger to $12.6b versus the $10.9b during the six-month period in 2022.
Total assets jumped 6.4% year-on-year (YoY) to $10.1b in the second half of 2023. Concurrently, liabilities surged 6.6% YoY to $10b.
On the other hand, Leadlease’s total equity during the period dipped 11.1% to $80b.
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