More bad news coming? Fletcher goes into trading halt

Fletcher has more bad news. (Image: Fletcher)

Mon, 12 Feb 2024

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...

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