Fletcher Building rejigs annual earnings guidance after completion of Formica sale

Fletcher Building rejigs annual earnings guidance after completion of Formica sale
Rebecca Howard
By Rebecca Howard June 4 (BusinessDesk) - Fletcher Building rejigged its full-year earnings before interest and tax guidance after completing the sale of its Formica business ahead of schedule, effectively lowering the top end of that guidance. The US$840 million sale of Formica to Broadview Holding was announced in December last year and is part of Fletcher's strategy to exit non-core international businesses.  “We are pleased to have completed the Formica sale process ahead of schedule, which has been enabled by an effective collabor...

More Infrastructure

AI is a humungous electricity hog. That’s great
Infrastructure

AI is a humungous electricity hog. That’s great

Who better to drive clean-energy investment than some of the world’s biggest firms?

Bloomberg 20 Apr 2024
Fast-track ‘stakeholders’ list released
Economy

Fast-track ‘stakeholders’ list released

Major corporates including Carter Group and Fonterra are on the list.

Victoria Young 19 Apr 2024
Sniffing the breeze on the next four months
Economy

Pattrick Smellie: Sniffing the breeze on the next four months

A soon-to-be international absconder ponders what he'll find on return to NZ.

Pattrick Smellie 19 Apr 2024
Christchurch council wants $47m more from its trading companies
Infrastructure

Christchurch council wants $47m more from its trading companies

“There is no more money to go around,” CCHL chair says.

Oliver Lewis 18 Apr 2024