New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>Fletcher Building (FBU) will report its FY24 result on Wednesday, 21 August.</li><li>We expect FY24 EBIT of NZ$514m, down materially on FY23, but in the middle of FBU's guidance range of NZ$500m–$530m EBIT, which includes NZ$10m–$15m of restructuring costs.</li><li>Areas of focus will be: (1) the balance sheet given elevated debt levels, (2) an update on WA pipes and legacy construction projects, and (3) current trading and outlook comments, given slowing construction activity. </li></ul>

Fletcher Building (FBU) will report its FY24 result on Wednesday, 21 August.We expect FY24 EBIT of NZ$514m, down materially on FY23, but in the middle of FBU's guidance range of NZ$500m–$530m EBIT, which includes NZ$10m–$15m of restructuring costs.Areas of focus will be: (1) the balance sheet given elevated debt levels, (2) an update on WA pipes and legacy construction projects, and (3) current trading and outlook comments, given slowing construction activity. 

Fletcher Building - FY24 Preview — Tools Down