The company is satisfied that the provisions are adequate and has taken remedial action to address the programme management issues." Lend Lease Corporation posted a profit after tax of A$176.6m for the six months to 31 December 2005, up from A$140.7m at December 2004 as restated under AIFRS. The lift in reported profit was due to the absence of one-off costs associated with Group restructuring and a merger proposal that were a feature of the December 2004 result. Lend Lease Group Managing Director and CEO,, said: "While we are pleased with progress on our strategy and to report the increase in bottom line profit after tax, we are disappointed that the provisions against the UK construction projects held back what would have been an otherwise very strong operating result.