Report
Tim Mann
EUR 147.86 For Business Accounts Only

Despite diversity and scale, Fletcher Building's earnings change with construction markets.

Fletcher Building announced 2016 net profit after tax of NZD 462 million, up 71% on 2015, although like-for-like NPAT increased 4.8% to NZD 418 million after excluding NZD 44 million profit on asset disposals and excluding the NZD 150 million of restructuring charges in the prior period. Normalised EPS increased 4.4% to NZD 0.606, and the firm declared a final dividend of NZD 0.20 per share, bringing full-year dividends to NZD 0.39 (100% NZ franking), up 5%. The result was in line with our estim...
Underlying
Fletcher Building Limited

Fletcher Building is a holding company. Through its subsidiaries, Co. operates in six divisions: Heavy Building Products, which manufactures, distributes and markets heavy construction material; Light Building Products, which manufactures a range of building products for residential and commercial markets; Laminates and Panels, which manufactures and distributes decorative surface laminates; Distribution New Zealand and Distribution Australia, which consist of building, plumbing, pipeline and steel distribution businesses in Australia and New Zealand; and Construction, which is a general contractor in New Zealand and the South Pacific and a builder of residential homes in New Zealand.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Tim Mann

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