Analysts pan Fletcher results, one comparing it to Fonterra

Analysts pan Fletcher results, one comparing it to Fonterra
Jenny Ruth
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...

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