Market watchdog NZ RegCo puts Fletcher result under microscope

Market watchdog NZ RegCo puts Fletcher result under microscope
NZ RegCo referred a record number of cases to the FMA last year. Now it is inquiring about Fletcher Building’s half-year result release. (Image: Getty)
Rebecca Stevenson
The New Zealand stock exchange rules enforcer says it is inquiring about Fletcher Building’s half-year result release. Analysts and market watchers were unhappy with Fletcher Building’s result in February when it posted a $120 million loss and blindsided analysts with a $122m write-down of its Australian retail plumbing business.It entered a trading halt two days before the result on Feb 14, warning it needed to finalise its earnings guidance, “which was likely to materially vary from current analyst forecasts”.&nbs...

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