Fletcher Building conducts ASM Meeting & Reported FY20 Guidance

Fletcher Building Limited (ASX: FBU) held its 2019 Annual Shareholder Meeting (ASM) today wherein it highlighted its strong growth in FY19 and reported the FY20 Guidance. Few highlights of the announcement are as follows:

  • New Zealand core divisions remain on track against a solid market backdrop;
  • The company expects EBIT before significant items for FY20 to remain in between of NZ$ 515 million to NZ$ 565 million;
  • In FY19, EBIT before significant items (after adjusting for discontinued operations) was NZ$ 549 million;
  • The company reported revenue for the year was NZ$ 9.3 billion and net earnings were NZ$ 164 million;
  • Fletcher Building’s net debt decreased from NZ$ 1.3 billion at June 2018 to NZ$ 325 million at June 2019;
  • The board paid a total dividend of 23 cents per share for the year.

At AEST 01:07 PM, the stock was trading lower at $4.930 from the previous close.

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