Property

Much smaller lockdown impact on Fletcher this year: analyst

Jenny Ruth
Thu, 07 Oct 2021

Fletcher Living should benefit from housing tax changes. (Image: Getty)

Jenny Ruth
Thu, 07 Oct 2021

This year's lockdown will cost Fletcher Building considerably less than last year's, and the impact to date has been less than 10% of last year's, according to Jarden analyst Grant Swanepoel.Last year's national lockdown, which lasted for seven weeks, trimmed $240 million off Fletcher's earnings for the year ended June 2020, but Swanepoel estimates the impact this year so far is about $20m.He's shaved his forecast earnings before interest and tax (ebit) from $719m to $701m for the year ending June 2022, up from normalise...

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Much smaller lockdown impact on Fletcher this year: analyst

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