Just for interest sakes pulled up 2011 Annual Report
Emblazoned across the front page AN ENDURING VISION
It’s lasted 10 years that vision ;)
Printable View
Strong cash flows and strong balance sheet ....profit announcement
That’s good
http://nzx-prod-s7fsd7f98s.s3-websit...730/328084.pdf
It seems all the 'dogs of the NZX' have been doing well recently (and by well I mean not badly)... PEB a few weeks back, STU yesterday and FBU today...
The trouble is the new accounting standard on leases changes the make-up of operating cash flows a lot since, I think, all the payments for leases etc, go thru as a financing cashflow item rather than an operating cashflow item. so the operating cash flows are not easily compared YoY when the most recent period will reflect an accounting change which benefits the most recent period.
(please correct me if I am wrong)
Seems like a loss announcement according to this article......but then what do journalists know!?
I bet they are using the COVID issues to do more housekeeping.
Yes Business Desk are reporting it the same way and Jenny Ruth the journalist is having a good dig
After years of insisting it had fully provided for its legacy construction losses, Fletcher Building is adding another $150 million to the near $1 billion pot.
That and covid-19-related impacts are the major reasons behind the $196million net loss the company expects to report next week for the year ended J une.
Strong cash flows but a “loss” will be reported... after significant items, is that Impairments or something like that?
I’m Pretty hopeful for a dividend to be honest. They have the Cashflows for it. That would be a major catalyst for the share price to get moving.
I guess some people just hope that at one stage the "dog of the NZX" strategy will work out
.... and - to be honest, I think that FBU well might be one of these dogs which gets at some stage a (hopefully not just dead-) dog bounce.
I doubt however that the right time for buying in is now.