Sydney, Sept 6, 2007 (ABN Newswire) -
Lend Lease has won a major development contract. The $470 million project will involve redeveloping the Top Ryde shopping centre in Sydney's north west. The current centre is due to be demolished and will be replaced by a new centre four times the original size. The project will be completed by the company's Bovis unit and should be finished by mid 2010. Lend Lease has produced profits over the last four financial years following a profit turnaround in 2004.
There appears to be a delay in the return to work for miners at Lihir Gold's Papua New Guinea mine. The miners went on strike last Friday over working conditions, including transport of workers, rosters, and other management issues. Workers had been due to recommence work on Tuesday but according to the company they have had to address additional employee issues. A spokesman said the strike will result in the loss of about 2,300 ounces of gold per day. Lihir Gold experienced its earnings highlight in 2004.
And Air New Zealand says it will revamp its services to Australia and the Pacific. As part of the overhaul, the airline says it will stop its budget Freedom Air operation from flying to and from Australia from the end of March next year. The carrier says it will also change aircraft servicing its Australian routes to provide more leg room in some seats, and improve meals and flight entertainment. The airline says it wants to provide a more consistent standard of service. Air New Zealand produced record earnings in 2007.
The full report is available at the following video and audio links.
Video Link
http://abnnewswire.net/fnnlnk/1VXFM21WAudio Link
http://abnnewswire.net/lnk/804LE789Source: Finance News Network © 2007
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