Operating profit at Australian developer Lend Lease grew 24% in the past financial year, despite a disappointing performance from Bovis Lend Lease, its construction arm.

The developer鈥檚 operating profit rose to 拢143m for the year ending June 2006, compared with 拢115m for the previous year.

However, profit at Bovis dropped 4% to 拢54m. This lacklustre performance was in part attributed to its UK operations. The contractor wrote down 拢14m on the BBC鈥檚 拢400m Broadcasting House refurbishment in London and the 拢80m Bridgewater Place Tower in Leeds.

Bob Johnston, the global chief executive officer of Bovis, said: 鈥淭he UK had a strong second-half result, which helped to offset the first half margin deterioration.

鈥淭hese results, especially from the Asia Pacific and the Americas, demonstrate the underlying strength and resilience of the global business, despite the disappointment of the UK provisions this year.鈥�

Johnston will be hoping that this year鈥檚 problems are a one-off. He has set himself the target of doubling profit in the next five to 10 years.