Analysts pan Fletcher results, one comparing it to Fonterra

Sun, 25 Aug 2019

By Jenny Ruth Aug. 26 (BusinessDesk) - Fletcher Building managing director Ross Taylor’s hopes that the market will recognise his achievements to date have been dashed. Analysts have panned the 2019 annual results, albeit that they were well-signalled, with some cutting their forecasts for this year. Grant Swanepoel, an analyst at Craigs Investment Partners, has shaved $17 million off his current-year forecast and now expects earnings before interest and tax to come in at $513 million from $631 million in the year just gone. “Despit...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket closes up more than 1%

F&P Healthcare helped to drive the market higher.

Tom Raynel 6:20pm

The Quiz Free

QuiznessDesk, Thursday, July 17

Take a break and try our quiz.

The Quizmaster 9:15am

Property

Failed developer owes $80m

DDL Estates and its parent, Rua Whare, collapsed, leaving partly built developments.

Maria Slade 5:00am

Sponsored

Global real estate without the passport or paperwork

A global ETF offers access to income-generating real estate like data centres, healthcare and logistics warehouses – all in New Zealand dollars.

Blackrock, Smart Invest

Sponsored

‘Make Today the Day’: Why on-the-job training is the key to NZ’s service recovery

Covid gutted New Zealand’s service workforce. Training is the fix – and the future.

ServiceIQ

More Economy

Economy

Food prices rise 4.6% in the year to June

New stats show food prices rose 4.6% in the year to June – the largest rate of increase since late 2023.That was up from a 4.4% increase in the year to May, Stats New Zealand’s latest selected price indexes show.Rising prices for fruit and vegetables in June have contributed to a...

Staff reporters 12:00pm