Tag Archives: Fletcher Building

Fletcher Building’s head of the distribution division, John Beveridge, has resigned after four years in the job. Beveridge will step down as chief executive of Fletcher’s distribution unit at the end of next month “to pursue personal interest,” the company said in a statement. He’s staying on to help smooth the transition period, and his successor will be made in …

New Zealand shares fell, pushing the NZX 50 Index to a month-low as Skellerup Holdings and Nuplex Industries missed profit expectations and cut guidance, and Fletcher Building continued its correction following its results yesterday. The NZX 50 fell 43.81 points, or 1 percent, to 4170.4, the lowest close since Jan. 18. Within the index, 26 stocks fell, 12 rose and …

Fletcher Building chief executive Mark Adamson, in the job for just four months, has embarked on a review of the company’s business model aiming to find $70 million a year in additional earnings from centralising operations. Adamson got approval from his board yesterday for the plan that is likely to see hundreds of jobs cut across Australia and New Zealand. …

Fletcher Building, the country’s biggest listed company, isn’t abusing its position as the Earthquake Commission’s go-to guy for home repairs in Canterbury, and is providing “satisfactory value for money.” EQC chairman Michael Wintringham told Parliament’s finance and expenditure committee that Fletcher’s role managing the repair programme has met the government-backed natural disaster insurer’s criteria around cost, quality, timeliness and safety. …

Fletcher Building, the biggest company on the NZX, expects operating earnings to grow by as much as 22 percent in the 2013 financial year as new home construction accelerates and the firm keeps a lid on costs. The shares rose to $7.65, their highest level since October last year. The Auckland-based company sees operating earnings of between $560 million and …