FBU - Fletcher Building

[Biscuit]

....... No interest from this old dog at ANY price.

Sure, the company isn't much good from any perspective - no growth anywhere in the company and the wheels completely off in places. But there is always a point at which the shares are a bargain. Not saying they are there yet -they are not - but I have recently bought a few and will look to buy more after there is some news in February. Shares of a company that drops the ball like this, needs a capital raise, and suspends the dividend are going to correct upwards once it is clear there are no more clangers and the dividend is reinstated IMO.

[bull....]

im expecting more writedowns in ongoing jobs , but will they mention them

[Biscuit]

im expecting more writedowns in ongoing jobs , but will they mention them

They say they are on track to complete existing projects within the existing provisions

[Onion]

Ross Taylor has a busy day today...

Fletcher Building CEO Ross Taylor said: "We are pleased to deliver a result in line with the earnings guidance provided at the ASM, and to be able to
reinstate dividend payments.

Stuff.co.nz: Ross Taylor could add another illustrious milestone to his storied career at the venue on Wednesday when New Zealand face Bangladesh in the 'dead rubber' third ODI.

...

He requires just 51 runs to surpass Stephen Fleming (8007), his first Black Caps captain, as New Zealand's leading ODI run scorer.

[bull....]

They say they are on track to complete existing projects within the existing provisions

precinct is the latest to say fletchers are behind so we have skc and precinct withholding more money for non compliance probably more to com i reckon. they should have missed the div and paid debt in my opinion slowing aus market means prudence is necessary

[Biscuit]

precinct is the latest to say fletchers are behind so we have skc and precinct withholding more money for non compliance probably more to com i reckon.

No mention of that in the interim report that I can see. Either they think it is covered by current provisions, or not likely to be significant or they are being a bit misleading - surely not!

[bull....]

No mention of that in the interim report that I can see. Either they think it is covered by current provisions, or not likely to be significant or they are being a bit misleading - surely not!

it be in a note somewhere probably under litigation pending or something else similar this is what ppt say other day

Included within the Commercial Bay construction contract is the right to liquidated damages if certain milestones are not met. As at 31 December 2018, $15.4 million of liquidated damages have been withheld from the contractor. The amounts withheld have been recognised as part of current liabilities and a contingent asset has been identified as ultimate recovery is not able to be considered virtually certain since Precinct's right to retain these liquidated damages could be disputed.

i think theres a high chance fbu will not meet the deadlines still in there work so litigation issues they will have in the future even skc has yet fully to say what they are going to sue fbu for yet

[Biscuit]

even skc has yet fully to say what they are going to sue fbu for yet

I have a decent holding in SKC so hopefully they sue for a fair chunk of change. FBU down a fair bit today, considering there does not seem to be anything negative particularly that hasn't already been well aired.

[bull....]

I have a decent holding in SKC so hopefully they sue for a fair chunk of change. FBU down a fair bit today, considering there does not seem to be anything negative particularly that hasn't already been well aired.

aus is bad for construction companies only get worse as yr goes on they probably glossed it up in there presentation , think the div announced today probably saved it being down 20%

[Biscuit]

aus is bad for construction companies only get worse as yr goes on they probably glossed it up in there presentation , think the div announced today probably saved it being down 20%

Aus currently a relatively small component of the group income given the size of the investment, there must be room to get a lot more out of that investment even if it is just all sold off and debt repaid.