Managing director Greg Clarke told an investor briefing, the property giant expects operating profit after tax for the full year to be between $380 million and $400 million, compared to the previous financial year's figure of $447.1 million.
He also said Lend Lease (llc.ASX:Quote,News) would have to make writedowns of about $297 million on the value of its portfolio as global economic conditions continue to worsen.
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