More bad news coming? Fletcher goes into trading halt

More bad news coming? Fletcher goes into trading halt
Fletcher has more bad news. (Image: Fletcher)
Staff reporters
Fletcher Building has put itself into a trading halt saying its upcoming earnings guidance is expected to differ from current analyst forecasts significantly.Fletcher Building's stock slid last Monday after disclosing an additional provision of $165 million in cost blowouts on the New Zealand International Convention Centre project. A number of analysts said they feared the latest downgrade might be a sign of more to come.In trading this Monday, Fletcher’s shares were valued at $4.16, with $2.5m worth of stock changing hands.It h...

More Markets

Volatile stocks drive NZ sharemarket down nearly 0.5%
Markets Market Close

Volatile stocks drive NZ sharemarket down nearly 0.5%

The S&P/NZX 50 Index closed at 12.844.59, declining 60.45 points or 0.47%.

Graham Skellern 05 Feb 2025
Lyttelton Port result improves but CEO says it's not enough
Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base. 

Rebecca Howard 05 Feb 2025
Sky CFO Ciara McGuigan resigns in surprise departure
Markets

Sky CFO Ciara McGuigan resigns in surprise departure

Embattled broadcaster Sky TV is losing its chief financial officer with immediate effect.The pay-TV operator, facing a barrage of customer anger over poor satellite reception in recent weeks, announced the resignation of Ciara McGuigan on Wednesday.Her departure, effective immedi...

Staff reporters 05 Feb 2025
Ex-contractors reveal Harvey Norman business model pressures
Retail Exclusive

Ex-contractors reveal Harvey Norman business model pressures

The promise of big money can require extreme flexibility from ‘proprietors’.

Gregor Thompson 05 Feb 2025