Fletcher beats guidance with $323m 1H operating earnings

Wed, 17 Feb 2021

Fletcher Building's first-half net profit jumped 48 percent with the underlying result rising by a similar magnitude and the company saying it reflects its turnaround strategy.However, analysts had foreshadowed an improved result because housing markets on both sides of the Tasman have performed much better than the company had feared.Net profit for the six months ended Dec. 31 rose to $121 million from $82 million in the same six months a year earlier while earnings before interest and tax rose 47 percent to $323 million, just above the co...

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