FBU - Fletcher Building

[peat]

Seems like a loss announcement according to this article......but then what do journalists know!?

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.

[macduffy]

No no no --- EBIT either $310m or $160m

A good result if you don't have to pay interest or tax!

[Balance]

Seems like a loss announcement according to this article......but then what do journalists know!?

When every result for the last 3 years contain abnormal items and provisioning, the abnormals & provisioning becomes normal!

[Checkmate]

Strong cash flows but a “loss” will be reported... after significant items, is that Impairments or something like that?

[Checkmate]

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.

[Beagle]

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.

One excuse after another after another after another...why anyone would bother with this systemically flawed dinosaur is beyond me.

[BlackPeter]

One excuse after another after another after another...why anyone would bother with this systemically flawed dinosaur is beyond me.

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.

[Checkmate]

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.

They were doing very well before Covid hit, weren’t they? They were buying back a lot of shares...

[nztx]

They were doing very well before Covid hit, weren’t they? They were buying back a lot of shares...

Were they ? .. or was that in the days before the Sky Convention Centre fire hit ?

[Checkmate]

Were they ? .. or was that in the days before the Sky Convention Centre fire hit ?

They definitely were before the convention centre fire, but did that even cause significant losses to Fletcher? They were covered by insurance... I don’t remember the numbers, guess the FY20 report will give more colour.