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

Fletcher Building chief executive Ross Taylor says operating earnings will rise.

Wed, 26 May 2021

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...

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