Sharechat Logo

Forum Archive Index - August 2000

Please note usage of the Forum is subject to the Terms & Conditions.

 
Messages by Date [ Next by Date Previous by Date ]
Messages by Thread [ Next by Thread Previous by Thread ]
Post to the Forum [ New message Reply to this message ]
Printable version
 

[sharechat] FCL Result


From: "G.P.Thompson" <gp.thompson@bitworks.co.nz>
Date: Wed, 30 Aug 2000 08:15:35 +1200


To the FCL followers here is the Fletcher result as published in the NZ Herald.
 
GPT
 
Wednesday, August 30 2000
Fletcher posts big gains

30.08.2000 - By STAFF REPORTERS and AGENCIES

Fletcher Challenge Group made a full-year net profit of $382 million in the year to June 30, compared with the $101 million it reported for the previous year.

The preliminary numbers were posted on the Australian Stock Exchange website last night, at 8.15 local time.

The company was scheduled to release the result through the New Zealand Stock Exchange at 9 am today.

Fletcher spokeswoman Ginny Radford said last night that the numbers were unofficial and had to be confirmed by the Fletcher Challenge board.

The board was due to meet at 7 am today, before a briefing for the media and analysts, she said.

According to the Australian Stock Exchange website, all three letter stocks showed strong gains on last year.

Energy posted a net profit of $261 million, ahead of market expectations of $230 million, and compared with $55 million previously.

This result was after a net gain from "total unusual items" of $99 million, which included gains related to affiliate sales, partly offset by a fund writeoff. Sales rose to $1.56 billion from $1.17 billion in 1999.

Forests reported an $81 million bottom line, compared with $55 million in 1999, including a net gain from "total unusual items" of $58 million, mainly due to a tax ruling partly offset by a partnership writedown. Its sales for the year rose to $578 million, which was up from $508 million in 1999.

Building made $63 million, compared with $23 million - market expectations were $95 million. Building's sales were $2.35 billion, against $2.65 billion a year earlier. The profit was after a loss from "total unusual items" of $43 million, due to a fund writeoff and problems in the company's Fijian operations.

In the clearest statement yet that the sales process is close to completion, the company detailed final dividends for Energy and Building "unless the separation process results in a third-party sale recommendation."

Energy intends paying a 10c dividend and Building 8c, to those registered as shareholders on September 29. Fletcher Forests does not intend paying a dividend. - Staff reporters & wire services

 
Messages by Date [ Next by Date: Re: [sharechat] FCL Result Warner Lamb
Previous by Date: Re: Re: Re: [sharechat] Buying High ? craig & celyn bird ]
Messages by Thread [ Next by Thread: Re: [sharechat] FCL Result Warner Lamb
Previous by Thread: Re: [sharechat] USA&UK mkts Sue McLellan ]
Post to the Forum [ New message Reply to this message ]