Aveo Delivers 21 Percent Earnings Increase

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All eyes are on Lend Lease’s bid to take over Aveo parent FKP, with Lend Lease particularly mentioning the retirement village business as a desirable component of the FKP group. The profit results this week show why, with Aveo delivering 54 percent of FKP’s earnings of $125 million, a 21 percent increase over last year. $46 million of this was property revaluations, also up.

It also bears noting that reports of Lend Lease executives holding secret discussions over ‘blending’ the retirement village assets of FKP and BBC are unfounded. Attributed to an interview departing CEO Greg Clarke gave last week, the story was declared false by Lend Lease; a media representative stating that Mr. Clarke had in fact given no interviews since the announcement of results.

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