NZ's Fletcher Building falls on weak FY outlook

Fletcher Building

24/06/2025 24:32

** Shares of home builder Fletcher Building FBU.NZ down 5.2% at NZ$2.92; lowest level since February 10

** Co expects FY25 EBIT before significant items to be in the range of NZ$370 million to NZ$375 million ($221.45 million to $224.44 million), compared with FY24 EBIT before significant items from continuing operations of NZ$509 million

** Total significant items to be announced in FY25 results are expected to be between ~NZ$573 million and ~NZ$781 million, says co

** Given ongoing market volatility, guidance remains subject to market conditions for remainder of month, adds co

** Stock up 8.1% this year, as of last close

($1 = 1.6708 New Zealand dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))