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Fletcher surprised the market last week with unexpected cost increases to cover likely losses on two big projects. (file image)
Photo: RNZ / Cole Eastham-Farrelly
Fletcher Building’s shares are in a trading halt ahead of its first-half result on Wednesday.
The trading halt is at the request of the company, which says it needs to give itself time to review its profit guidance, which is likely to vary materially from market analysts’ current forecasts.
Fletcher surprised the market last week with unexpected cost increases to cover likely losses on two big projects – the New Zealand International Convention Centre and Wellington Airport car park – in the order of $180 million.
The halt will remain in place pending the release of an announcement, or no later than midday on Wednesday.
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