好色先生TV

Lend Lease鈥檚 European construction arm has gone on a recruitment drive in the UK, hiring 95 staff as it 鈥減ositions itself for growth鈥�, despite reporting a AUS$25.1m (拢14.1m) loss in Europe last year.

The firm confirmed this week its European construction division hired 95 staff in the UK between February and June and a spokesperson said it was still on a 鈥渟ubstantial recruitment drive鈥�.

The news came as the European construction business, the bulk of which is in the UK, reported a 拢14.1m loss before interest, tax and debt amortisation (EBITDA) in the year to June, despite growing revenue 22%.

The firm said the loss, an increase of 26% on the loss made last year, was down to 鈥渃hallenging market conditions鈥� in recent years, the disposal of its Spanish business and the impact of restructuring.

In its group financial results for the year, the Australia-based business told the Australian stock exchange that its European construction business, based primarily on the former Bovis business in the UK, turned over AUS$1bn (拢608m), a rise of 22%.

Neil Martin, Lend Lease鈥檚 managing director for construction in Europe, said the firm had 鈥渃onsolidated its position over the past 12 months鈥� after taking 鈥渁 strategic decision not to chase low margin contracts or engage in unnecessary high-risk scenarios鈥�.

He pointed to a number of large contract wins in recent months, including the 拢151m Wrexham super-prison and the 拢100m Beacon Barracks scheme.

Martin also confirmed Lend Lease has seen off competition from Mace, Sir Robert McAlpine and Brookfield Multiplex to win the 拢150m contract to build Great Portland Estate鈥檚 mixed-use Rathbone Square scheme. The firm is also known to be in the running for the 拢400m BBC TV Centre redevelopment and 拢600m second phase of Battersea Power Station.

Martin added: 鈥淟ooking ahead as the market continues to recover, we have positioned ourselves for growth and have a clear plan to continue to increase our pipeline over the next financial year and beyond.鈥� 
In its latest senior management restructuring the firm said European chief executive Dan Labbad, also the group鈥檚 chief operating officer, will now become chief executive of international operations covering Europe, Asia and the Americas.

A spokesperson for the firm confirmed there would be no new post overseeing just the European business.

Lend Lease reported a huge 699% rise in EBITDA profit in its overall European business 鈥� which includes its development activities 鈥� to AUS$592m(拢333m) because of the sale of its stake in Bluewater shopping centre to Land Securities for 拢696m in June, which netted it a AUS$485m (拢273m) post-tax profit.