NZ's Fletcher Building sees worst day in more than 3 years on FY profit slump

Fletcher Building

16/08/2023 02:02

(Updates share moves in first bullet and adds Australian shares
in seventh bullet)
    ** Shares of Fletcher Building Ltd  FBU.NZ  slump as much as
10.2% to NZ$5.250, seeing their worst day since March 23, 2020 -
if current losses hold 
    ** Stock down for a third straight day 
    ** Construction materials maker logs a net profit after tax
of NZ$235 mln ($139.87 mln) for the year ended June 30, down
from NZ$432 mln a year earlier
    ** Posts FY revenue NZ$8.47 bln vs NZ$8.5 bln a year ago
    ** Co declares fully imputed final dividend of 16 cents per
share
    ** Shares hit their lowest since June 2
    ** ASX-listed shares  FBU.AX  emerge as top loser in the
benchmark  .AXJO , losing about 10.7%; poised for worst day
since March 23 - if losses hold
    ** Co's NZ stock up 16.3% this year, as of last close

 (Reporting by Poonam Behura and Archishma Iyer in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))