UPDATE: Fletcher stock drops 13% as Norris steps down, B+I provision increased by $486M

Tue, 13 Feb 2018

(Recasts with share price, adds investor comment, details of B+I contracts, lending arrangements) By Jonathan Underhill Feb. 14 (BusinessDesk) - Fletcher Building shares tumbled 13 percent after the company said Ralph Norris will step down as chairman in the face of a further $486 million provision for project losses at its Building + Interiors unit where 14 of the unit's 73 projects, worth $2.3 billion, are loss-making or 'on watch'. Fletcher shares dropped $1.03 to $6.74 when they resumed trading this morning after being halted last...

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