Fletcher boss shrugs off criticism as shares tank

Tue, 20 Nov 2018

By Jenny Ruth Nov. 20 (BusinessDesk) - The reaction of Fletcher Building’s shareholders was emphatic to the dismal news that core first-half profit operating earnings will be about 10 percent lower than in the previous first half. The shares fell as low as $5, their lowest level since February 2009 in the depths of the global financial crisis, and down 55 cents, or almost 10 percent, on Monday’s close. If the share price was the score card for managing director Ross Taylor, in the top job for almost exactly a year, you’d have to say it...

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