Fletcher shares rise as it targets 8.2% margin this year

Fletcher Building chief executive Ross Taylor is making progress towards his goals.

Wed, 26 May 2021

Fletcher Building's forecast to lift operating earnings in the current year by more than fourfold assumes a near 25% lift on 2019 operating margins.The company is forecasting earnings before interest and tax (ebit) for the year ending June will come in between $650 million and $665m, above its previous guidance of $610m to $660m and up from the pre-one-off losses ebit of $160m the previous year.That assumes an ebit margin of about 8.2%. While the 2020 ebit margin was just 2.2% before one-off losses of $276m, that largely reflected the impac...

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