Cladding costs totalling £150m send Lendlease into the red

By Daniel Gayne2023-08-14T11:20:00

Australian firm working to ‘maximise’ recovering remediation costs from third parties

Lendlease remained in the red last year as the cost of remediating unsafe buildings in the UK wiped out the savings made by its restructuring the previous year.

In its results for the year to 30 June 2023, the Australian firm posted a pre-tax loss from continuing operations of A$238m (£122m) – an even heavier loss than the A$177m (£90.5m) recorded the previous year.

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