Fletcher Building in trading halt
But the dual-listed firm hasn't yet made a similar request to the ASX.
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Infrastructure
Fletcher Building, the country's biggest construction firm, is in a trading halt pending an announcement.
The Auckland-based company's shares rose 1% to $9.22 before the halt was put in place this morning, and have dropped 14% so far this year. The company sought the halt ahead of an announcement, it said in a statement to the NZX. However, the dual-listed firm hasn't yet made a similar request to the ASX.
Last month, the company posted a 2% gain in first-half profit, disappointing expectations with a weak performance from its construction division which including a loss running to the "tens of millions" on a major contract. The building company's stock had been outperforming on the expectation it would benefit from a construction boom in New Zealand's biggest city.
(BusinessDesk)
Paul McBeth
Fri, 17 Mar 2017
Fri, 17 Mar 2017
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Fletcher Building in trading halt
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