The chairman of Housing New Zealand's board is stepping down to avoid a potential conflict of interest.
Fletcher Building is warning its noteholders that an unsolicited offer is below the current market value of the notes.
Fletcher Building, the biggest company on the NZX 50 Index, posted a one percent gain in first-half profit.
A $40 million Government deal to supply wallboard for the Christchurch rebuild is being used to inject competition into New Zealand's high-cost home building market.
The Auckland-based company's long steel and distribution units will be joined with Fletcher's concrete division in a newly-named business.
Fletcher Building non-executive director Hugh Fletcher will step down from the board of the country's biggest listed construction company, ending his family's link with the firm stretching back more than 100 years.
Fletcher Building has reported a 12 percent drop in annual earnings, on sales growth fuelled by the first full-year contribution from Australia's Crane Group.
New Zealand shares rose to a four-and-a-half-year high, with Fletcher Building, Telecom and Skellerup Holdings gaining ahead of results that investors are betting will show local companies are resilient in a tepid economy.
New Zealand shares rose today, with Fletcher Building gaining to a two-week high.
Fletcher Building, New Zealand's biggest listed company, forecasts first-half profit to fall 10 per cent and earnings growth to stall in the full year.
The Commerce Commission sees the manufacture and supply of pipes and pipe systems as the main area of overlap in this country.
A trading halt has been placed on the shares of Fletcher Building at the request of the company.
New Zealand's largest listed company, Fletcher Building, has reported a 10 percent drop in profit for the six months to December 31.
Fletcher Building is expecting full year net earnings, excluding unusual items, to fall within the range of analysts' forecasts from $261 million to $340m.
Fletcher Building is 100-years-old – an achievement that is almost unheard of in the building sector.
Fletcher Building shares jumped 8 percent after yesterday's result was announced, a bottom-line loss of $46 million.
It's that time of the year when our biggest companies start reporting on their profits or losses.
Fletcher Building is battling a huge downturn in the housing market, and has had to make 2,500 people redundant.
Fletcher Building is cautious about its prospects for the current year, after reporting a $46 million net loss for the year to June.
Fletcher Building shares reclaimed much of their losses of the past two days in early trading, shooting up 23c, or 3.3 percent, to 725.
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