Lendlease chief executive Tony Lombardo appealed to shareholders to look past this financial year to better times ahead, vowing to follow through on a promised $500 million share buyback to restore confidence in the developer’s ability to tame its debt burden.
The troubled company would only get its gearing back within its targeted 5 per cent to 15 per cent range by the end of 2025-26, investors were told ahead of Friday’s annual general meeting in Sydney. It reported gearing of 21 per cent in August.
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