Fletcher meets guidance as full-year profit climbs 71% on sales growth, one-time gains

Tue, 16 Aug 2016

By Jonathan Underhill Aug. 17 (BusinessDesk) - Fletcher Building posted a 71 percent gain in full-year profit, and met its earnings guidance, driven by an improved performance in Australia and gains in its New Zealand distribution, residential and construction divisions. Net profit rose to $462 million from $270 million, the Auckland-based company said in a statement. Total revenue gained 4 percent to $9 billion. Operating earnings before interest and tax and excluding one-time items were $682 million, within the company's guidance range...

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