Fletcher stock blowtorched as Taylor says firm didn't have 'firm grasp' of market

Share price falls after halt lifted. (Image: Fletcher)

Wed, 14 Feb 2024

The market sliced more than 13% off Fletcher Building after its two-day trading halt on the New Zealand stock exchange came to an end at lunchtime Wednesday, trading as low as $3.52 in early trade before recovering to $3.59 mid-afternoon.Turnover was more than $20 million.The descent came after the dual-listed group announced a $120m net loss after tax for the half year to December – and as chief executive Ross Taylor and chair Bruce Hassall opted to step down, the latter as a precursor to a restructured and “renewed” board.Th...

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