Latest: Lend Lease profit slashed, Nomura buys Bass pubs, General gets 30,000mÂ² warehouse contract, Lend Lease sells Aurora Pl.
16 February 2001
Lend Lease Corp reported net profit down 61% to $A108.8 million on revenue up 8% to $A5.8 billion. Earnings/share fell 58% to A23.1c. The company said results were not directly comparable because the previous figures included financial services group MLC and were on a higher capital base before the group’s $A1.8 billion buyback.
15 February 2001
Japanese bank Nomura has won the bidding for Bass’s 988-pub estate in Britain, and may also be in the running to pick up its brewing business, bought for Â£2.3 billion ($NZ7.8 billion) last year by Interbrew of Belgian in a deal subsequently rejected by Britain’s Trade & Industry Secretary. The Bass pubs have gone for Â£625 million ($NZ2.1 billion). Nomura already controls 5000 UK pubs.
14 February 2001
General Property Trust of Australia will increase its portfolio to $A160 million on completion of a 30,000mÂ², $A40 million warehouse and office at its Camellia business park in Sydney’s inner west. Australian Pharmaceutical Industries Ltd has precommitted to the warehouse, taking a 12-year lease.
Lend Lease Corp and its partner in the Aurora Place development at 88 Philip St in Sydney, East Asia Property Group, have sold the building to the Commonwealth Property Investment Trust for $A485 million.