Fletcher to deliver at least $850m operating earnings in 2023

Fletcher to deliver at least $850m operating earnings in 2023
Fletcher's chief executive, Ross Taylor. (Image: NZME)
Jenny Ruth
Fletcher Building is expecting to deliver at least $100 million additional earnings before interest and tax (Ebit) in the year ending June 2023 on top of the $750m it expects to deliver in the year ending this month.But at the company’s investor day, chief executive Ross Taylor has modified his target of achieving Ebit margins of 10% by the 2023 financial year to achieving margins between 9% and 10% “through the cycle”.Asked about this change, chief financial officer Bevan McKenzie said that “at the top end of that range...

More Infrastructure

Tonkin and Taylor announce Vanessa Stoddart as chair
Infrastructure

Tonkin and Taylor announce Vanessa Stoddart as chair

Stoddard is a director of the Channel Infrastructure board.

Staff reporters 12 Dec 2024
Arise Winston, minister of railways
Policy Analysis

Arise Winston, minister of railways

The NZ First leader has regained ministerial oversight over KiwiRail.

Oliver Lewis 12 Dec 2024
Govt unveils ferry plans
Infrastructure

Govt unveils ferry plans

NZ will get two new ferries, which are expected to start operations in 2029.

Oliver Lewis 11 Dec 2024