Australia's Lend Lease Returns to Profit

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• UPDATE: Australia's GPT Welcomes Lend Lease,Rivals Watch - SYDNEY (Dow Jones)--Ending more than two months of rocky negotiations, General Property Trust (GPT.AU) Friday agreed to a revised A$7.0 billion takeover bid from Lend Lease Corp. (LLC.AU).
• Lend Lease profits reach target - Building development company Lend Lease has posted an annual net profit after tax of $237 million. That figure is up on last year's profit of $230 million.
• Lend Lease turns corner with $237m. profit - Lend Lease Corporation Limited has turned the corner with a net after-tax operating profit of $237.4 million for the year to 30 June 2004, compared with $230.2 million after tax for the year to 30 June 2003 and in line with previous guidance.

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