Fletcher Building Limited (FRCEF) has released an update.
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Fletcher Building Limited has reported weakening market conditions, leading to a lowered earnings guidance for FY24 with expected EBIT before Significant Items ranging from $500 million to $530 million. Despite challenging conditions, particularly in the Distribution and Building Products divisions, there are pockets of resilience such as the Concrete division and strong performance in Residential & Development. The company is maintaining a focus on cost management and anticipates robust cash flows, with expected Net Debt of $1.9 to $2.0 billion as of June 30, 2024.
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