Fletcher Building posts 12 percent drop in FY earnings before $132 mln of charges

Tue, 21 Aug 2012

By Jonathan Underhill Aug 22 (BusinessDesk) - Fletcher Building, New Zealand’s biggest construction and building products company, reported a 12 percent drop in annual earnings before one-time charges on sales growth fuelled by the first full-year contribution from Australia’s Crane Group. Earnings before one-time items fell to $317 million, or 46.5 cents a share, from $359 million, or 57.1 cents, a year earlier, the Auckland-based company said in a statement. Sales rose 20 percent to $8.87 billion, with Crane providing the single-biggest con...

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