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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.

Tim Hunter Mon, 05 Feb 2024

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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Fletcher shares hit post-Covid low on latest NZICC blowout
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