Fletcher Building in trading halt

Fletcher Building, the country's biggest construction firm, is in a trading halt pending an announcement. 

The Auckland-based company's shares rose 1 percent to $9.22 before the halt was put in place this morning, and have dropped 14 percent so far this year. The company sought the halt ahead of an announcement, it said in a statement to the NZX, however, the dual-listed firm hasn't yet made a similar request to the ASX. 

Last month, the company posted a 2 percent gain in first-half profit, disappointing expectations with a weak performance from its construction division which including a loss running to the "tens of millions" on a major contract. The building company's stock had been outperforming on the expectation it would benefit from a construction boom in New Zealand's biggest city. 

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

May 13th Morning Report
Pacific Edge launches capital raise of NZ$24 million
SML - Resignation of Synlait Director
FBU - Sale of Laminex Cheltenham property
CVT - Comvita Achieves Minimum Capital Raise Requirement
Devon Funds Morning Note - 04 May 2026
MEL - Meridian joins global ranks of sustainable companies
May 5th Morning Report
ATM - a2MC recalls small volume of a2 Platinum USA label
CEN - Contact Chair to retire this year, new Chair appointed