Australia's Fleetwood tumbles on plan to exit recreational vehicles market
Yesterday 01:30
BUZZ-Australia's Fleetwood tumbles on plan to exit recreational vehicles market ** Shares of Fleetwood FWD.AX fall as much as 20.7% to A$1.325, their lowest level since June 21, 2024
** Modular solutions provider intends on exiting the recreational vehicles (RV) market, saying the segment is non-core to future strategic priorities
** Co will also divest Camec, a distributor of RV and caravan parts across AUNZ
** Co says 2H26 net profit after tax will be impacted by restructuring costs of A$20 million-A$24 million ($14.02 million-$16.83 million), co will not declare final dividend
** Shares down 49.3% YTD
($1 = 1.4263 Australian dollars)
(Reporting by Nichiket Sunil in Bengaluru)
Recent news on Fleetwood
See all newsBrief: Fleetwood Ltd To Exit RV Solutions
Australia's Fleetwood tumbles on plan to exit recreational vehicles market
Brief: Fleetwood Says Bruce Nicholson Departs As Managing Director & CEO
Australia's Fleetwood hits nearly 12-year high on upbeat FY results
Brief: Fleetwood Declares Fully Franked Dividend Of 13.5 Au Cents Per Share