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

NZTA taps WSP consultant for critical infrastructure job
Infrastructure

NZTA taps WSP consultant for critical infrastructure job

The agency says it doesn't ordinarily do this, but it has a plan to manage conflicts.

Work on first seven roads of national significance begins
Infrastructure

Work on first seven roads of national significance begins

The Govt is prioritising 17 Rons as part of its $22b land transport plan.

Rebecca Howard 05 Jul 2024
Swedish-designed, Chinese-built ferries considered for Cook Strait
Infrastructure

Swedish-designed, Chinese-built ferries considered for Cook Strait

KiwiRail went for something else, but Stena's ferries could be back on the table.

Oliver Lewis 05 Jul 2024
Antarctica NZ abandons 'highly risky' Scott Base rebuild plan
Infrastructure

Antarctica NZ abandons 'highly risky' Scott Base rebuild plan

The Crown entity has reset its Antarctic redevelopment plans.

Oliver Lewis 04 Jul 2024