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25 Sep 2020 19:31
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  •   Home > News > Business

    Fletcher Building expects a net earnings loss of 196-million dollars for the year to the end of June, mainly due to the impacts of Covid-19

    Fletcher Building expects a net earnings loss of 196-million dollars for the year to the end of June, mainly due to the impacts of Covid-19


    The company's annual results will be released in full on Wednesday next week.

    It's suffered significant lost revenues, especially during the lockdown and start-up period; higher expenses on legacy construction projects; and one-off restructuring costs to prepare for reduced market activity.

    Despite lower earnings, the company's cash flow performance and balance sheet position has remained very strong.

    © 2020 Newstalk ZB, NZCity


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