Fletcher shares hit post-Covid low on latest NZICC blowout
After announcing $180m of provisions on legacy construction projects, Fletcher reassures analysts on debt covenants.
Fletcher is building the International Convention Centre for client SkyCity.
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Shares in Fletcher Building dropped sharply on its announcement of a $180 million provision for further construction project losses – and then fell again as the market absorbed the messages from a presentation by chief executive Ross Taylor at noon.
By 1pm the stock was down almost 8% at $4.19
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