Fletcher 2020 earnings guidance shows small downside bias

By Jenny Ruth | Thu, 28 Nov 2019


Fletcher Building has signalled a small downside bias in its core operating profit forecast for the year ending June 2020. The guidance, which ranges from a 6 percent reduction to a 3 percent increase from last year, comes as its New Zealand building products businesses are on track, wet weather has slowed Higgins' work, and the Australian operations face intense competition in a declining residential market and where infrastructure projects are delayed. Fletcher expects earnings before interest and tax will range from $515 million to $56...