Fletcher Building issues profit warning

Construction group Fletcher Building issued a profit warning on Monday, driven by a “notable slowdown” in house sales in New Zealand and a weaker Australian property market, as property prices eased. The company cut its earnings guidance for fiscal 2024 to between $NZ500 million to $NZ530 million. The builder had previously provided earlier guidance in February in the range of $NZ540 million to $NZ640 million.
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