Fletcher sees earnings growth of up to 22 percent in 2013, shares gain to 13-month high

Mon, 19 Nov 2012

By Paul McBeth Nov. 20 (BusinessDesk) - Fletcher Building, the biggest company on the NZX, expects operating earnings to grow by as much as 22 percent in the 2013 financial year as new home construction accelerates and the firm keeps a lid on costs. The shares rose to $7.65, their highest level since October last year. The Auckland-based company sees operating earnings of between $560 million and $610 million in the year ending June 30, 2013, chairman Ralph Waters told shareholders at their annual meeting today. That includes a $20 million r...

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