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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Lendlease Group    LLC   AU000000LLC3

LENDLEASE GROUP (LLC)
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Lendlease : $168.5 million hospital rebuild to start

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10/06/2017 | 12:16pm CEST

Redevelopment for Sheppartons new multi-million dollar hospital is set to begin before the end of the month.

Victorian Health Minister Jill Hennessy was in Shepparton yesterday to announce Sydney-based company Lendlease would do the $168.5 million rebuild.

The Victorian Government-funded redevelopment will create a new four-storey tower with 64 in-patient beds, 10 intensive care unit beds, seven operating theatres and a new kitchen and morgue.

A brand new emergency department will double its current capacity and there will be a new womens and childrens unit.

Funding to retain the childrens wards 12 beds has also been secured in a bid to send fewer children to Melbourne for treatment.

Goulburn Valley Health infrastructure executive director Sandy Chamberlain said early works would centre around enablement, although there would be service disruption and different access points for patients and staff.

In the next two years, post-enabling works, well see a tower coming out of the ground, we see a doubling of our emergency department, and well see a new renal dialysis treatment space, so therell be exciting parts of the build, Ms Chamberlain said.

Weve made sure the staging does not reduce treatment spaces, or any number of beds at any stage during the building.

The project requirements have aimed to use local services and employment, and Lendlease has committed to engaging Aboriginal employees as part of the regions Algabonyah Employment Partnerships Program.

Ms Hennessy said the refurbishment of the hospital would be completed by 2020. It will create an additional 140 construction jobs in the meantime.

For a long time, people have been advocating for a larger health service here at Shepparton, and today here weve turned the first sod, Ms Hennessy said.

I hope that those who are looking at Shepparton as a place to live feel comforted by the healthcare services that are available and make the move, because thats how we want to keep the economies in our big regional cities alive.

(c) 2017 TBREAK MEDIA. ALL RIGHTS RESERVED. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (AUD)
Sales 2018 16 710 M
EBIT 2018 1 154 M
Net income 2018 766 M
Debt 2018 -
Yield 2018 3,21%
P/E ratio 2018 15,61
P/E ratio 2019 13,97
Capi. / Sales 2018 0,71x
Capi. / Sales 2019 0,66x
Capitalization 11 939 M
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 21,3  AUD
Spread / Average Target 2,7%
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Managers
NameTitle
Stephen Barry McCann Group CEO, Executive Director & Managing Director
David Alexander Crawford Chairman
Daniel Labbad Chief Executive Officer-International Operations
Tarun Gupta Group Chief Financial Officer
Phillip Maxwell Colebatch Independent Non-Executive Director
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