Fletcher Building didn't breach NZX rules in earnings downgrades, NZX finds

Wed, 17 Jan 2018

By Sophie Boot Jan. 18 (BusinessDesk) - The New Zealand stock exchange has found Fletcher Building did not breach continuous disclosure rules in relation to two forecast earnings downgrades last year. In a statement published this morning, NZX Regulation said its investigation found the company acted promptly in releasing material information after management and directors became aware of it, in both March 2017 and July 2017. On March 20, 2017, Fletcher cut its 2017 earnings forecast by $110 million, or about 15 percent, saying that it...

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