Lendlease's Fund Management Business to Fuel Earnings Growth. FVE Increased to AUD 18.50
Lendlease Group reported fiscal 2018 earnings of AUD 792 million, or AUD 137 cents per security, or cps, up 1.3% and marginally above our forecast of AUD 135 cps. The result was messy, with construction EBITDA falling AUD 260 million due to engineering related impairments, but largely offset by significant uplift in noncash revaluations of investments by AUD 228 million to AUD 305 million. We forecast fiscal 2019 earnings grow 2% to AUD 140 cps, with a strong recovery in construction earnings, b...LendLease operates a regional management structure in Australia, Asia, Europe and the Americas. Co.'s segments include: Development, which is involved in the development of communities, inner-city mixed-use developments, apartments, retirement, retail, commercial assets and social and economic infrastructure; Construction, which provides project management, design, and construction services, predominantly in the infrastructure, defence, mixed-use, commercial, and residential sectors; and Investments, which includes a wholesale investment management platform and also includes Co.'s ownership interests in property and infrastructure Co-Investments, Retirement Living and U.S. Military Housing.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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