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Hot Topic Reporting season
Hot Topic Reporting season
Investment
2 mins to read

Reporting cycle could be ‘worse than GFC,’ as Fletcher downgrades

The country’s biggest building materials group has become the third major company to issue a profit downgrade in a week.

Fletcher Building faces residential headwinds.

Fletcher Building shares dipped 10% to $3.16 by late afternoon trade Monday, taking its stock price erosion to more than 29% over the past 12 months, slashing $900 million from its market capitalisation to $2.5 billion in the process.

The latest market reaction comes on the back of the company’s

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Brent Melville Mon, 13 May 2024
Contact the Writer: bmelville@nbr.co.nz
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Reporting cycle could be ‘worse than GFC,’ as Fletcher downgrades
Investment,
104031
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