Lendlease reports $1bn loss amid strategy shift, regulatory delays By Reuters

(Reuters) – Australia’s Lendlease said on Monday its annual losses widened as the property developer grappled with a major shift in operating strategy amid a delay in the regulator’s review of the sale of community projects.

The country’s largest real estate developer reported a loss of $1.50 billion after tax, compared with a loss of $232 million a year ago.

($1 = 1.4948 Australian dollars)