Fletcher raises full-year guidance, flags $300m share buyback

Fletcher raises full-year guidance, flags $300m share buyback
Fletcher Building chief executive Ross Taylor says operating earnings will rise.
Jenny Ruth
Fletcher Building said it expects operating earnings of up to $665 million and that it will return as much as $300m to shareholders via a share buyback.The building materials company said the buyback will start in June and the bottom of its guidance range for earnings before interest and tax (ebit) is $650m.The guidance is an upgrade on February's forecast that ebit would come in between $610 million and $660 million."Fletcher Building's balance sheet is in a strong position with leverage expected to remain below our target range i...

More Property

RoofBuddy founder's previous venture was liquidated
Property

RoofBuddy founder's previous venture was liquidated

RoofBuddy sponsors the New Zealand Warriors NRLW franchise.

JLL to close debt advisory unit
Property

JLL to close debt advisory unit

Global commercial real estate firm Jones Lang LaSalle (JLL) is offshoring its debt advisory division, a month after it announced it would downsize its New Zealand footprint.  The Australian Financial Review (AFR) reported on Tuesday evening that JLL is closing its Australian and...

Gregor Thompson 23 Apr 2025
Damien Grant 'stacked creditor vote', US lender claims
Property

Damien Grant 'stacked creditor vote', US lender claims

Ormiston Rise funder Arena is taking court action to have the liquidator removed.

Maria Slade 23 Apr 2025
In defence of the villa
Property

Maria Slade: In defence of the villa

Removing protections from Auckland’s villas won’t solve the housing crisis.

Maria Slade 22 Apr 2025