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Does the August share price for Fletcher Building Limited (NZSE:FBU) reflect what it's really worth? Today, we will...
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On 20 May, Fletcher Building announced its intention to lay off about 1000 staff in New Zealand, or approximately 10 percent of its workforce, as a result of the COVID-19 pandemic. [14] On 11 August, it was reported that Fletcher Building was expecting a loss of NZ$196 million for the year to June 2020 as a result of the COVID-19 pandemic. [15]
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In 1925 the company headquarters was moved to Auckland, and in 1940 Fletcher Construction became a subsidiary of the Fletcher Holdings group, which listed on the share market that year. [3] In 1942, following the resignation of his father to help New Zealand's war effort, James Fletcher junior became managing director of the company.
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