‘Unfocused’: Expert’s dire warning for embattled developer Lendlease

Investment whizz John Wylie has called for embattled property developer and builder Lendlease to exit the international construction business and “be a leader” on Australian projects.Tanarra Capital founder and CEO John Wylie has called for property company Lendlease to rethink its"disparate business activities" amid sliding share prices and a series of earnings disappointments.

However, the once blue-chip company, which is currently headed by chief executive Tony Lombardo, has experienced a marked fall from grace with large institutions increasingly steering clear. “We believe it's operating on four continents in three different industries in a whole range of quite disparate business activities in many respects, has not been a formula for success and it shows in the share price.”

“But internationally they have done a lot of third-party construction work, and it is the absolute definition of running very fast to stand still at best. “They do a very good job and they can be a leader for interesting development projects here in Australia."

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