Fletcher Building Earnings Buoyed by Home Building Boom
Fletcher Building Earnings Buoyed by Home Building Boom WELLINGTON, New Zealand--Fletcher Building Ltd. said its full-year earnings increased by more than 40%, buoyed by a home-construction boom in New Zealand that it expects to continue for at least another 12 months. The company's net profit for the financial year ended June 30 increased to 432 million New Zealand dollars ($274 million) from NZ$305 million in the previous year, it said Wednesday. Fletcher Building said it expects significant earnings growth in its new financial year, driven by a backlog of construction work. It said it is targeting a NZ$100 million increase in earnings before interest and tax from the NZ$756 million Ebit achieved in the past financial year.
Publicado : hace 3 años por MarketScreener en Finance Markets
WELLINGTON, New Zealand--Fletcher Building Ltd. said its full-year earnings increased by more than 40%, buoyed by a home-construction boom in New Zealand that it expects to continue for at least another 12 months.
The company's net profit for the financial year ended June 30 increased to 432 million New Zealand dollars ($274 million) from NZ$305 million in the previous year, it said Wednesday.
Fletcher Building said it expects significant earnings growth in its new financial year, driven by a backlog of construction work.
It said it is targeting a NZ$100 million increase in earnings before interest and tax from the NZ$756 million Ebit achieved in the past financial year.
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