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
11 August 2020
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
