Monday , January 30 2023

Fletcher reduces the forecast of 10% profit in austerity trading in Australia



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The Fletcher building has reduced the forecast for the first half of 2019 by 10 percent, but is still planning to re-pay dividends for this fiscal year.

Today, the largest company in the nation's annual Auckland annual meeting, the low forecast is due to the Australian trading environment and the time of home sales to the living room.

Fletcher hopes for a $ 630 million to $ 680 million in fiscal yearly earnings in 2019, with tax and material benefits. The building that was published in February 2018 + The regulations on internal affairs will not change.

Although the company continues to reach the top of this range, it also lasts for half a century at the Gold Bay cement plant.

According to Fletcher, dividend repayment is a good trader
contracts and group cash flows.

"Dividend Policy will remain unchanged at that time, taking into account the current cash flows of significant items in the range of 50-75 per cent of net dividend income."

Fletcher dropped out of dividend payments in August, which was $ 190 million more than $ 94 million last year. The full loss was paid to the dollar.

In February, former chairman Ralph Knorris announced that the company will issue $ 292 million on 30 June 2017. Causing damage to US Dollars and hitting $ 660 million on 30 June. About $ 1 billion worth of damage from Buildings + Interiors , 2018.

The company complies with the trading market in New Zealand, which is slightly lower than in the end of June, a drop in sales of home sales and a longer period than expected.

In Australia, the company implements its rotary strategy, but because of the cooling of the housing sector, it complicates trade in many enterprises.

Infrastructured businesses are improving, but the cost increase continues to push the margin pressure.

Formica, which sells for 18 months in April, trades in planning and trading in Asia, especially in Asia. Fletcher said that the weaker New Zealand dollar would help to make a successful transition.

Fletcher's management can compare investors with market expectations, said Shane Salli, director of Harbor Asset Management.

"The management is still working through a business rebuilding when it finds Australia's sophisticated trading conditions and softwares softened."

Fletcher shares were closed at $ 5.50 yesterday and market capitalization was 4.74 billion US dollars.

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