Fletcher shares leap on first-half profit

Chief executive Ross Taylor expects fatter margins in the second half. (Image: supplied)

Wed, 16 Feb 2022

Fletcher Building achieved an 11.8% second quarter operating margin, providing some insight into why it's so confident it can achieve 10% for the full-year ending June 2023.That, and the fact the company flagged a much higher than expected operating profit for the full year, sent Fletcher shares flying up as much as 6.2% before settling back to $6.63 at about 10.40am.It was that stonking second quarter that allowed the company to lift the half-year earnings before interest and tax (ebit) margin a notch to 8.2% from 8.1% in the same six mont...

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