close
MENU
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

Want to read more? It's easy.

Choose your best value subscription option

Individual
Group membership
NBR Marketplace

Yearly Premium Online Subscription

NZ$499.00 / yearly

Monthly Premium Online Subscription

NZ$44.95 / monthly

Smartphone Only Subscription

NZ$24.95 / monthly

Premium Group Membership 10 Users

NZ$350+GST / monthly

$35 per user - Pay by monthly credit card debit

Premium Group Membership 20 Users

NZ$600+GST / monthly

$30 per user - Pay by monthly credit card debit

Premium Group Membership 50 Users

NZ$1250+GST / monthly

$25 per user - Pay by monthly credit card debit

Premium Group Membership 100 Users

NZ$1875+GST / monthly

$18.75 per user - Pay by monthly credit card debit

Yearly Premium Online Subscription + NBR Marketplace

NZ$499.00 / yearly

Already have an account? Login
Brent Melville Mon, 13 May 2024
Contact the Writer: bmelville@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Company profile
Powered by: nzx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Company profile
Powered by: nzx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Reporting cycle could be ‘worse than GFC,’ as Fletcher downgrades
Investment,
104031
true