Lend Lease Group, Australia’s largest property developer, returned to profit in the first half and announced a share sale to fund new projects.

Net income totaled A$204.9m, compared with a loss of A$596.4m a year ago, the Sydney-based company said today in a statement to the Australian stock exchange. The company will undertake an equity sale to raise about A$806m to speed up the development of planned projects and secure investment opportunities, it said.

bloomberg.com, The Australian