0459 GMT - Fletcher Building continues to tick boxes on its strategic transformation, says Forsyth Barr. The building materials supplier's FY26 result slightly beat expectations for earnings and net debt. "Despite recent volatility, Fletcher's core materials and distribution divisions delivered strong earnings growth, aided by cost-out and higher volumes," analyst Rohan Koreman-Smit says. Profit margins and return on invested capital are lifting off lows. Still, they remain below long-term targets. "Near-term trading could stay volatile, but Fletcher is levered to an early stage cyclical recovery in New Zealand construction," says Forsyth Barr, which rates Fletcher at outperform.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.