UPDATE2: Fletcher shares drop after 1H results show weak construction earnings

Wed, 22 Feb 2017

(Adds CEO comment on construction contract loss, work in hand starting in sixth paragraph) By Jonathan Underhill Feb. 22 (BusinessDesk) - Fletcher Building shares fell after the company posted a 2 percent gain in first-half profit that included unexpectedly weak earnings from its construction division that included a loss in the "tens of millions" on a major contract. Gross revenue from construction jumped 54 percent to $1.15 billion in the six months ended Dec. 31, making it Fletcher's second-largest business after distribution, but o...

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