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BRIEF-Fletcher Building Says HY Net Earnings Of NZ$89 Million Vs Loss Of NZ$273 Million

Published 20/02/2019, 07:13 am
Updated 20/02/2019, 07:20 am
© Reuters.  BRIEF-Fletcher Building Says HY Net Earnings Of NZ$89 Million Vs Loss Of NZ$273 Million

Feb 20 (Reuters) - Fletcher Building Ltd FBU.NZ :

* HY NET EARNINGS OF NZ$89 MILLION VERSUS LOSS OF NZ$273 MILLION

* DECLARE AN INTERIM DIVIDEND OF 8.0 CENTS PER SHARE

* EBIT (EXCLUDING SIGNIFICANT ITEMS & ASSUMING A FULL YEAR OF FORMICA EARNINGS) FOR FY19 IS EXPECTED BETWEEN NZ$650 MILLION TO NZ$700 MILLION

* NEW ZEALAND ACTIVITY IN RESIDENTIAL SECTOR IN SECOND HALF OF FY19 IS EXPECTED TO BE BROADLY FLAT COMPARED TO PRIOR PERIOD,

* FY19 FUNDING COSTS EXPECTED TO BE IN RANGE OF NZ$125 MILLION TO NZ$135 MILLION COMPARED TO INITIAL GUIDANCE OF NZ$145 MILLION TO NZ$155 MILLION

* GROUP'S CORPORATE OVERHEAD COSTS IN FY19 ARE LIKELY TO BE AT THE LOWER END OF THE NZ$45 MILLION TO NZ$55 MILLION GUIDANCE RANGE

* "AUSTRALIA- RESIDENTIAL & COMMERCIAL ACTIVITY IS EXPECTED TO DECLINE SHARPLY, INCLUDING IN THE KEY STANDALONE DWELLINGS SEGMENT"

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