Shares of the developer, Lendlease Group (ASX:LLC) slipped as much as 5.4% to A$8.02, which marked their largest intraday drop since July 18th.

The company reported a statutory loss after tax of A$232 million for fiscal year 2023, compared to a loss of A$99 million the previous year.

The loss is largely attributed to an A$295 million provision against potential liabilities for its properties in the United Kingdom due to industry-wide action by the UK government, among other reasons.

The stock has hit its lowest level since July 20th, following an 8.2% rise this year up to the last close.

Lendlease Group (ASX:LLC) is a Sydney-based multinational construction, property and infrastructure company.