Incredible ...another 1/2 billion bites the dust ...betcha this just ain’t happened
Words fail me
Normalized Profit will be pretty good though ...previous guidance confirmed
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Incredible ...another 1/2 billion bites the dust ...betcha this just ain’t happened
Words fail me
Normalized Profit will be pretty good though ...previous guidance confirmed
No capital raise mentioned so I reckon share price down about 10% today
Maybe $7 will be good buying ... but $6.50 would be even better
Excuse my ignorance, but why is trading halted in these circumstances? Who makes that decision?
Mind boggling. How one can losses be almost tripled from their last comprehensive review?!
Breathtaking!
http://nzx-prod-s7fsd7f98s.s3-websit...124/274373.pdf
Looks like Sky City has got the bargain of the century - getting a $887m convention centre for $470m?
No dividend for HY2018. Oh dear me. That might kick the share price down another 20c or so.
Wonder if Ralph choked up like Bill did when he wrote this -
Fletcher Building remains a great and solid business. I have every confidence it will weather this storm, and once again deliver our shareholders the value they expect and deserve.
Time to look at KPMG. How do they have a $160m loss in October and they now have a $660m los. Thats a lot of numbers they couldn't find a few months ago.
https://www.nzx.com/announcements/314161
Ralph Norris falling on his sword.
Bring Ralph Waters back!
there revenue in construction is over 2 billion , there stopping all bidding for further work on vertical construction , significant hit to revenue going forward i reckon , hence earnings will be less going forward and potentially lower divs , even at 6 i reckon your paying nearly 20x earnings for future yrs
Disclosure imo not adequate. Blaming sub trades is laughable. Must be a lot of gibbers plumbers and sparkies holidaying in St Moritz and on their superyachts. Reality is they gave fixed price contracts on stuff that wasnt designed. Also any bunny knows digging underground is fraught with danger. Board signed off on a totally crazy strategy. 540 staff on over 500g a year. Take the knife to board and staff and bs costs.
"While the B+I market sector remains characterised by high contract risk and low margins we will no longer participate. If these market dynamics change in the future we would reconsider our position." - well, at least they've agreed with me and have finally seen the light........ hopefully as an industry 'leader' (and I use that term lightly) they can perhaps help force some positive change.
filthy
PS the banks havent waived. They have stayed requiring new terms. If i was the notes guys i would totally screw them on the negotiations. Also my bet is the banks will require an amort of debt going forward. A bitter pill for shareholders
https://s3-ap-southeast-2.amazonaws....n___secure.pdf
The full answer is above, section 5.4
The short answer (for voluntary halts) is that the company requests it and the exchange decides if it should be granted and under what conditions.
Here’s hoping the sp gets absolutely smashed today.
Anyone willing to buy at this time? I’m guessing it will drop to the high $5 mark