In the 12 months to 30th June 2021 Lendlease Construction (Europe) generated revenue of 拢554.4m, which was 25% up on the previous year鈥檚 Covid-impacted 拢442.7m and close to 2019鈥檚 pre-Covid revenue of 拢563m.
Pre-tax profit for the year to 30th June 2021 was 拢20.0m, up from 拢3.9m the previous year but still down on 2019鈥檚 拢31.9m.
Finance director Michelle Letton said that work was slow coming to market in the first half of the year [i.e. July-December 2020], but activity had picked up in 2021.
During the year Lendlease started work on site a HMP Glen Parva in Leicestershire, Camden Town Hall in London and 2 Rusking Square in Croydon.
Lendlease Europe鈥檚 balance sheet shows net assets of 拢186.4m (2020: 拢168.7m), cash of 拢78.2m (2020: 拢65.5m) and zero external debt.
Michelle Letton concluded her report by saying: 鈥淭he full impact the pandemic will have on the company is uncertain given the situation is evolving and the wider impact on the economy is unknown. However, the directors believe that the company is well place to manage its financing and future commitments over the next 12 months.鈥�
Parent company Lendlease Construction Holdings (Europe) posted a pre-tax profit of 拢3.9m (2020: 拢459,000 loss).
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