FIRST CUT: Fletcher betters first-half guidance with 8% ebit drop

Tue, 19 Feb 2019

By Jenny Ruth Feb. 20 (BusinessDesk) - Fletcher Building posted a first-half net profit following last year’s multi-million loss but operating earnings before one-offs were down 8 percent. That’s better than the 10 percent drop the company warned of at its annual shareholders’ meeting last November. Net profit in the six months ended December was $89 million compared to the $273 million net loss it reported for the same six months a year earlier. Earnings before interest and tax were $285 million in the latest six months compared wi...

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