Lend Lease has made a termination payment of A$6.8m to David Higgins, who stood down as chief executive in December, two years before the end of his contract.
The Australian property group, which owns Bluewater, in Kent, reported an after-tax loss of A$369m in the half year to December 2002 compared with a profit of A$126m in the previous year. Its Bovis division contributed strong profits, up 21% to A$59.7m.
The company said the loss would in “no way” impact its involvement with the Millennium Dome, in Greenwich, south-east London, where it has a joint venture with Quintain.
References: The Daily Telegraph 21/02/03 page 38
