Lendlease Group reported a net loss of $318 million for the first half of fiscal year 2026, a significant reversal from the $48 million profit recorded during the same period last year, as investment property devaluations and challenges within its developments business weighed heavily on results.
The Australian sharemarket experienced a mixed open on Monday, with gains among gold miners partially offsetting broader declines, as investors reacted to a renewed threat of tariffs from former US President Donald Trump. The S&P/ASX 200 Index initially rose before falling 8.3 points, or 0.1 percent, to 9073.10 at 10:32 am AEDT.
Trump has indicated his intention to impose a 15 percent universal tariff on imports from all countries following a Supreme Court decision regarding his previous tariff program, according to reports from The Australian and the Herald Sun. The announcement prompted volatility in global markets, with investors assessing the potential impact on international trade.
Despite the broader market uncertainty, Lendlease shares rose 1.5 percent following the earnings announcement. The company attributed the substantial loss to investment property devaluations and underperformance in its developments segment, which outweighed improvements in its construction business.
Other companies reported more positive results. Reece rallied 10.4 percent after its first-half EBIT of $262 million exceeded consensus expectations by approximately 5 percent, driven by effective cost management in Australia. Nuix experienced a significant surge, jumping 19.5 percent after swinging to a net profit of $11.1 million for the half-year ended December 31, compared to a loss of $10.4 million the previous year. Kogan.com also saw gains, increasing its interim dividend by 14 percent and adding 9.4 percent to its share price.
Regis Healthcare reported an 18 percent increase in revenue from services, reaching $667.7 million, supported by higher AN-ACC pricing, the hotelling supplement, improved occupancy rates, and contributions from recent acquisitions, resulting in a 6.7 percent jump in its share price.
Materials stocks benefited from a rally in gold prices, which reached around $US5136 an ounce amid increased demand for safe-haven assets. Newmont rose 2.3 percent, Evolution Mining gained 1.5 percent, and Ramelius Resources increased by 3.2 percent. The Australian dollar also continued its upward trend, reaching just below US71c.
Transurban added 1 percent, while Qantas fell 0.5 percent ahead of its scheduled earnings release on Thursday.
