UPDATE: Fletcher shares tumble 12% as construction woes cut $110M from FY guidance

Sun, 19 Mar 2017

(Updates to add stock decline, adds reference to major projects) By Paul McBeth and Jonathan Underhill March 20 (BusinessDesk) - Fletcher Building shares tumbled 12 percent after the company cut its full-year earnings guidance by about $110 million because of complexity and delays with a major development that showed up during a review of its construction division. The stock fell $1.12 to $8.10, and earlier touched a six-month low of $8.035 when it resumed trading after being halted on Friday pending the announcement. Full-year operati...

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