- Fletcher Building announced financial results, indicating Y-o-Y growth.
- Dividend of 18 cents per share to be paid to shareholders.
- Despite COVID-19-related supply-chain disruption, Fletcher hopes to continue enhanced performance.
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The EBIT was declared at NZ$669 million before significant items. It was further added that NPAT for the period was NZ$305 million. This is a significant upturn from NZ$196 million in the previous year due to COVID-19-related challenges.
The Company announced 18.6% returns on Funds Employed prior to significant items, while operations cash flow recorded was NZ$889 million. The Company offered a strong balance sheet, with its liquidity NZ$1.6 billion and the net debt placed at NZ$173 million. The Company announced its share buyback programme of value up to NZ$300 million right up to June 2022.
The Company has announced a final dividend of 18c per share, which has to be paid on 17 September 2021. This shall bring the FY21 full-year dividend at 30 cps.
Ross Taylor, the Chief Executive of the Company, was of the view that the strong results for the FY21 financial year were reflective of the strong body of work that the Company had worked upon for the past three years, in order to simplify the business and take it to a new height. He further added that the Company should grow from strength to strength depicting even better performance in the upcoming time.
Recently, there was a deal reached with Rocla for a value of AU$55 million.
The Company said it would continue to make specific investments in order to deliver on its plans. This is inclusive of operating and capital-related spending and focussing on areas like sustainability as a mission for the Company’s operations, maintaining investments and expanding digital capacities of the Company.
In terms of the outlook for the year ahead, the Company said its pipeline projects should contribute towards further growth, particularly in the residential sector across different geographies. Even though the market remains uncertain to some level because of COVID-19-related challenges, there shall be constant monitoring of the situation done to ensure a smooth flow of operations.
Offering growth in most aspects, Fletcher Building Limited is well positioned for a favourable next year. It is looking to expand with a focus on new technologies while keeping in mind the core principles.
On 18 August 2021, Fletcher Building Limited traded at NZ$7.800, up by 0.65% at the time of writing.