ANALYSIS: Fletcher running at near pre-covid levels but expects deterioration

Wed, 12 Aug 2020

Fletcher Building had a "solid" July and is currently operating at 90 percent to 95 percent of pre-covid levels. But trading is likely to deteriorate as government subsidies roll off and job losses mount, chief executive Ross Taylor said. "We expect that to worsen through the next six months and we will effectively continue to cut our cloth to that," Taylor told BusinessDesk yesterday, hours before Prime Minister Jacinda Ardern announced a new lockdown for Auckland, and the nation, after four cases of covid-19 were found in South Auckland...

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