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...

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