Fletcher Building paints a rosy picture
Canterbury rebuild lead contractor Fletcher Building has a record $1.82 billion work backlog but analysts see the rebuild throwing up a few more issues.
Fletcher Building
Sales, profit gains tipped for Fletcher
Sales, profit gains tipped for Fletcher
Construction lag times may be over for Fletcher Building, as positive signs of growth show in Christchurch's rebuild and more homes being built in Australia.
Fletcher shares up on update, rebuild work
Fletcher shares up on update, rebuild work
Fletcher Building shares were buoyed yesterday by an update on its divisions, in particular in relation to earthquake rebuilding work in Canterbury.
Views differ on Fletcher Building after broker presentation last week
Views differ on Fletcher Building after broker presentation last week
Fletcher Building has become a much-watched stock after a broker presentation in Australia late last week sent the share price down, before a small rally yesterday.
Strong NZ result for Fletcher
Strong NZ result for Fletcher
Fletcher Building has delivered an increased after-tax profit, bettering analysts' expectations.
Fletcher to reset interest on notes
Fletcher to reset interest on notes
Fletcher Building can expect a large benefit from declining funding costs when it rolls over $75 million of capital notes in mid-March, resetting the interest rate down by 3.5%.
Fletcher's share price builds on better news
Fletcher's share price builds on better news
Investor confidence has been repaid as billions flow back into Fletcher Building's market capitalisation, buoyed by housing and construction in New Zealand, Australia and the United States.
Fletcher building profits may erode
Fletcher building profits may erode
Fletcher Building shares have hit a 20-month high, but the forecast strength of the New Zealand dollar against its United States counterpart could erode long-term after-tax profits.
More homes expected; Fletcher shares soar
More homes expected; Fletcher shares soar
Shares in Fletcher Building were boosted to a year high yesterday on news earnings growth could be beyond 20% for 2013 from anticipated buoyancy in new-home construction.
Fletcher steady but outlook more positive for 2014
Fletcher steady but outlook more positive for 2014
Fletcher Building is picking a relatively flat trading year for 2013 but the Christchurch rebuilding and major infrastructure projects should underpin improving results in 2014.
Fletcher's financial result takes hit
Fletcher's financial result takes hit
Restructuring costs and low work volumes in New Zealand and Australia soured Fletcher Building's financial result, with its after-tax profit coming in at the lower end of guidance and 12% down on last year.
Lower-end profit expected
Lower-end profit expected
Analysts are picking Fletcher Building - the lead contractor of Christchurch's multibillion-dollar rebuilding - will deliver after-tax profit at the lower end of its forecast range of $310 million to $340 million range tomorrow.
German-based group undercuts Fletcher by half
German-based group undercuts Fletcher by half
A major German-headquartered company is undercutting Fletcher Building by selling its insulation for half the price.
Fletcher's profit hits doldrums
Fletcher's profit hits doldrums
Fletcher Building has again hit the earnings downgrade button, reflecting the woeful state of the construction sector which is showing few signs of any reignition.
Fletcher Building's value keeps getting rattled
Fletcher Building's value keeps getting rattled
The latest swarm of Christchurch earthquakes has prompted speculation that the lead rebuilding work contractor, Fletcher Building Ltd, might be considering further downgrades.
Fletcher's value 'deep', broker says
Fletcher's value 'deep', broker says
Fletcher Building shares have shed $2.3 billion in market capitalisation during the past nine months, reflecting the increasingly dour outlook for the construction sector this year.
Market responds to downgrade
Market responds to downgrade
Fletcher Building's first half 10% earnings downgrade this week has prompted brokerages to downgrade their own full year after-tax profit expectations by between 15% and 18%.
Fletcher Building lowers expectations
Fletcher Building lowers expectations
Fletcher Building shares plunged yesterday after the company slashed its first-half earnings outlook by 10% to just under $150 million in the face of declining residential and commercial work and after last weekend's 5.5 earthquake in Christchurch, which might further delay rebuilding.
Fletcher Building plans its expansion
Fletcher Building plans its expansion
Fletcher Building is providing plenty of positive signals to the market this week with three announcements in two days, Craigs Investment Partners broker Peter McIntyre says.
Fletcher Building profit better than expected
Fletcher Building profit better than expected
Fletcher Building booked more than $100 million in one-off costs for its full-year to June result yesterday, but managed to beat analysts' expectations to deliver an improved after-tax profit of $359 million.