Fletcher Building downgrades full-year profit forecast to $500m-$530m EBIT due to poor trading conditions and price competition.
Fletcher Building downgrades full-year profit forecast to $500m-$530m EBIT from previous guidance of $540m-$640m due to poor trading conditions, intense price competition, and lower building product sales. The update was prompted by challenging conditions in the company’s distribution division, exposure to the residential sector, and a sharp correction in the Australian residential market.
May 12, 2024
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