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

Fletcher's chief executive, Ross Taylor. (Image: NZME)

Thu, 23 Jun 2022

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...

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