Fletcher should avoid capital raise 'at all costs'

Fletcher should avoid capital raise 'at all costs'
Fletcher Building says there has been intense price competition in the residential sector. (Image: Fletcher)
Rebecca Stevenson
Fletcher Building’s largest shareholder says the embattled construction conglomerate should avoid a capital raise at all costs. The dual-listed building firm told markets on Monday it now expected lower earnings in 2024 due to intense price competition and a slowing residential building industry. It said earnings before interest and tax (Ebit) would be in the range of $500 million to $530m instead of $540m to $640m, with a forecast 10% fall in revenue for its Australian division. Analysts on Tuesday highlighted Fl...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
Forsyth Barr initiates full Turners coverage
Markets

Forsyth Barr initiates full Turners coverage

Forsyth Barr says a premium valuation is now warranted. 

Rebecca Howard 26 Jul 2024