New Zealand’s largest public company, dual listed Fletcher Building Limited
(ASX:FBU) has lifted its guidance for the 2013 financial year as Chief Executive Mark Adamson addressed shareholders at its annual meeting.
Shares in the building manufacturer jumped 26 cents yesterday to $6.07 following the news.
Mr Adamson plans to co-locate businesses and distribution centres as part of a wider program of significantly reducing costs.
Fletcher expects a 12 to 22 per cent lift in earnings despite providing an uncertain outlook for Australian home building levels.
The Australasia region provides Fletcher with about 85 per cent of its revenue.
Fletcher Building reported a net profit of $151.1 million in the 2012 financial year.
