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MarketScreener Homepage  >  Equities  >  New Zealand Stock Exchange  >  Fletcher Building Limited    FBU   NZFBUE0001S0

FLETCHER BUILDING LIMITED

(FBU)
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Fletcher Building : New Zealand's Fletcher Building posts $129 million annual loss as coronavirus bites

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08/18/2020 | 06:43pm EDT
A sign for Fletcher Building Ltd, New Zealand's biggest builder, adorns a crane at a construction site in the New Zealand city of Auckland

New Zealand's Fletcher Building Ltd reported an annual loss on Wednesday, hurt by project delays, higher cost provisions and one-time restructuring expenses due to the COVID-19 pandemic.

The country's largest construction firm said net loss after tax for the year stood at NZ$196 million ($129.34 million), compared with a profit of NZ$164 million a year earlier.

Last week, Fletcher warned that its supply chains would remain under pressure in the year ahead as lockdowns to curb the pandemic disrupts industrial activity and delay projects.

Fletcher said it has taken some "difficult" decisions to reduce costs in anticipation of lower market activity ahead, which it expects will deliver a permanent reduction of about NZ$300 million in fiscal 2021 in cost base.

The company said in May it will cut about 1,000 jobs in New Zealand and an additional 500 in Australia to reduce costs.

(Reporting by A K Pranav in Bengaluru; Editing by Shinjini Ganguli)


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Financials
Sales 2021 7 079 M 4 700 M 4 700 M
Net income 2021 129 M 85,3 M 85,3 M
Net Debt 2021 803 M 533 M 533 M
P/E ratio 2021 23,8x
Yield 2021 2,63%
Capitalization 3 388 M 2 255 M 2 249 M
EV / Sales 2021 0,59x
EV / Sales 2022 0,60x
Nbr of Employees 15 000
Free-Float 98,9%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 4,09 NZD
Last Close Price 4,12 NZD
Spread / Highest target 18,9%
Spread / Average Target -0,73%
Spread / Lowest Target -15,0%
EPS Revisions
Managers
NameTitle
Ross Harold Taylor Chief Executive Officer
Bruce Ronald Hassall Chairman
Bevan John McKenzie Chief Financial Officer
Daniel Beecham Chief Information Officer
Barbara Joan Chapman Independent Non-Executive Director
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