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NZ's Fletcher Building records half-year loss, misses estimates

Published 21/02/2018, 06:57 am
© Reuters.  NZ's Fletcher Building records half-year loss, misses estimates

Feb 21 (Reuters) - Fletcher Building Ltd FBU.NZ , New Zealand's biggest construction firm, reported on Wednesday a half-year loss, after cost overruns and steep losses in its buildings unit.

Net loss for the six months to Dec. 31 was NZ$273 million ($200.41 million), versus a net profit of NZ$176 million for the same period the previous year, the company said. That compares with a Thomson Reuters I/B/E/S estimate of NZ$79 million profit.

Fletcher maintained its full-year earnings guidance, excluding the buildings segment, at NZ$680 million to NZ$720 million.

($1 = 1.3622 New Zealand dollars)

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