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  1. #1031
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    The US investors will be loving this. Cash back plus penalty for early repayment and no longer having to be exposed to the New Zealand building sector. The covid environment has made this an easy sell by the FBU Treasury boys.

  2. #1032
    Legend Balance's Avatar
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    http://nzx-prod-s7fsd7f98s.s3-websit...611/325647.pdf

    $168m extra payments ($83m + $85m) to FBU for delays to the highway construction.

    Guess FBU is learning NOT to do fixed price contracts!

  3. #1033
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    Quote Originally Posted by Balance View Post
    http://nzx-prod-s7fsd7f98s.s3-websit...611/325647.pdf

    $168m extra payments ($83m + $85m) to FBU for delays to the highway construction.

    Guess FBU is learning NOT to do fixed price contracts!
    Interesting movement today in sp, whole market seem to be either going up or sideways, but this one is taking a bit. Took the opportunity to add few more into kitty.

  4. #1034
    Member Checkmate's Avatar
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    Any thoughts on earnings? Also if Fletcher announces that they will pay a final dividend would it boost the SP? I’m getting sick of watching everything else in the market rise while Fletcher gets hammered.

  5. #1035
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by Checkmate View Post
    Any thoughts on earnings? Also if Fletcher announces that they will pay a final dividend would it boost the SP? I’m getting sick of watching everything else in the market rise while Fletcher gets hammered.
    Earnings - What do you mean? Just listen to the market ...

    Seriously - given that they said end of May that things did run to plan until end of March (which was admittedly not a very exciting plan, but still with a black number at the bottom) and then came 2 months or so basically without revenue in NZ (and reduced revenue in Australia - I would not be too hopeful.

    Not sure which FY will need to carry the redundancy costs for the announced staff reductions (probably FY2021) but anyway - they will cost money ...

    On the bright side - I think that this FY will be better for FBU than next. Enjoy it while it lasts.

    Still more positive ... while I don't think that FBU is a good company (because it isn't) - I could see potential opportunities to consider them in a year or so from now for the dogs of the NZX portfolio ...
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  6. #1036
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    Election year, let's wait for billions dollar projects announcements...

  7. #1037
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    Quote Originally Posted by Stock888 View Post
    Election year, let's wait for billions dollar projects announcements...
    But don't forget FBU's recent performance. The bigger the project, the bigger the disaster!

  8. #1038
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    Seems like there are a lot pessimistic people here, that’s good news for FBU buyers IMO there is value here, the market is very experienced in undervaluing solid companies. All I see is a low price/book and a long history of solid income and dividends, a couple of bad years just means time to buy cheapies. Eventually the funds will start adding Fletcher Building (probably when it isoverpriced).

  9. #1039
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Checkmate View Post
    Seems like there are a lot pessimistic people here, that’s good news for FBU buyers IMO there is value here, the market is very experienced in undervaluing solid companies. All I see is a low price/book and a long history of solid income and dividends, a couple of bad years just means time to buy cheapies. Eventually the funds will start adding Fletcher Building (probably when it isoverpriced).
    FBU share price was under 3 bucks at the turn of the century and market sentiment was just like it was today ....big company all unloved and unwanted

    In the next 6 years or so the share price went to about 12 bucks ...one of the best long term trades I’ve ever had.

    Charts said sell and then the GFC hit. The company didn’t fare too well Post GFC ....maybe the coming big recession won’t go them any favours

    Been watching ever since but haven’t really seen enough to be tempted to have another go at 4 bagger
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  10. #1040
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    Quote Originally Posted by winner69 View Post
    FBU share price was under 3 bucks at the turn of the century and market sentiment was just like it was today ....big company all unloved and unwanted

    In the next 6 years or so the share price went to about 12 bucks ...one of the best long term trades I’ve ever had.

    Charts said sell and then the GFC hit. The company didn’t fare too well Post GFC ....maybe the coming big recession won’t go them any favours

    Been watching ever since but haven’t really seen enough to be tempted to have another go at 4 bagger
    Fletcher does this just about every decade - 1992, 2000, 2008 and now, 2019.

    But maybe this time is different? May never recover again and finally, gets taken over!

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