UPDATE: Fletcher Building shares drop on weaker earnings forecast

Mon, 19 Nov 2018

(Updates to add share reaction, downgrade relative to mid-point of analysts' consensus forecast. Corrects time period for forecast in second paragraph.) By Jenny Ruth Nov. 20 (BusinessDesk) - Fletcher Building shares fell 7 percent after the company said it expects first-half operating profit before “significant items” and losses on high-rise projects will come in about 10 percent lower than a year earlier. Fletcher said earnings before interest and tax will be $630-680 million for the year through June and the reduction is mainly du...

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