bearish
Fletcher Building (FBU): Disappointing 1H23 Guidance Driven by Low Residential Sales
FBU has guided to 1H23 EBIT before significant items of NZ$360m, -15%vs. our expectation of NZ$423m and lowered FY23 EBIT guidance to NZ$800-855m (was NZ$855m+, ForBar NZ$837m); Lower 1H and FY23 guidance both largely reflect lower sales volumes in the residential division
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Forsyth Barr
New Zealand Professional Investment Services Firm
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- Fletcher Building (FBU): Disappointing 1H23 Guidance Driven by Low Residential Sales20 Feb 2023
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