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Lend Lease profit rises

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Builder and developer Lend Lease has increased its first half profit by 39 per cent.

Lend Lease made a net profit $302.3 million in the six months to December 31, up from $217.8 million in the same period the previous year.

Its Australian business delivered much of the profit growth, due in part to the first commercial agreements for Lend Lease's Barangaroo project on Sydney harbour.

Lend Lease's local business posted a profit of $304 million, up from $207 million in the previous corresponding period.