Lend Lease have released their FY10 figures. They have reported a A$345.6 net profit and operating profit of A$323.6m which is a 5.2% growth on the previous year. They have also secured a reported $20b in projects for their development pipeline and are progressing well with the full integration of Primelife. The group currently owns 70 retirement villages and 33 aged care facilities. The group is in a strong investment position; 0.8b of equity raised, $250m cash from asset sales and $6.4b of new equity raised.
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Government confirms AN-ACC price rise and 42% hotelling supplement boost
The Albanese Government has confirmed new funding increases for residential aged care from next month – including a significant 42% jump in the hotelling supplement. From 1 October 2025, the Australian National Aged Care Classification (AN-ACC)...