Fletcher shares drop to 2014 low as investors sell on guidance

Wed, 22 Oct 2014

By Suze Metherell Oct. 22 (BusinessDesk) - Shares of Fletcher Building, New Zealand's largest listed company, have fallen to their lowest level of the year after the building supplies and construction company's earnings guidance disappointed investors. The Auckland-based construction and building materials company told shareholders at their annual meeting yesterday that full-year operating earnings in this financial year could rise between 4.2 percent and as much as 11 per cent to a range of between $650 million and $690 million, compare...

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