FIRST CUT: Fletcher's annual operating earnings meet guidance

Tue, 20 Aug 2019

By Jenny Ruth Aug. 21 (BusinessDesk) - Fletcher Building posted a $164 million annual net profit, a turnaround from the previous year’s loss and the first year of a five-year refocusing strategy to grow the business, the company said. Fletcher’s net profit for the year ended June compares with a net loss of $190 million the previous year. Earnings before interest and tax came in at $631 million, within guidance of $620-650 million, compared with $50 million the previous year. Fletcher will pay a per-share dividend of 15 cents, takin...

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