Fletcher Building rejigs annual earnings guidance after completion of Formica sale

Mon, 03 Jun 2019

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...

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