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32 stories mentioning ASX:FBUUpdated 3d ago

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Asia

Fletcher Building Unit to Sell Cheltenham Property to Forza Capital

Fletcher Building (ASX:FBU, NZE:FBU) said its Laminex Australia division has conditionally agreed to sell its Cheltenham, Melbourne property to Forza Capital for AU$53.8 million, according to a Friday filing with the New Zealand bourse.The transaction is contingent upon Forza completing environmental due diligence and securing internal approvals by mid-June, with completion anticipated before the end of the fiscal year, subject to the satisfaction of all conditions, per the filing.Laminex Australia will continue occupying the site for at least three years after the sale while it evaluates its long-term manufacturing site requirements, the filing said.The company expects the transaction to result in an estimated gain on sale of around AU$14 million in fiscal 2026, after deducting costs related to the sale, lease remediation, and restructuring, the filing added.

ASX:FBUNZE:FBU
Asia

New Zealand Shares Fall; Fletcher Building Flags Ongoing Residential Review, Asset Sales Underway

New Zealand shares ended lower on Tuesday as most Asian indexes saw losses amid fresh attacks exchanged between the US and Iran over the Strait of Hormuz.The S&P/NZX 50 Index fell 0.47% or 61.98 points to close at 13,035.70.The US and Iran exchanged fresh strikes across the Gulf on Monday, vying for control of the Strait of Hormuz with rival maritime blockades and rattling an already fragile truce, according to a Monday Reuters report.Meanwhile, New Zealand signed an agreement with Singapore on Monday to keep supply chains open between the countries during times of crisis, according to a Monday Reuters report.In domestic news, the ANZ World Commodity Price Index fell 0.8% month over month in April, with dairy prices in a period of high volatility, particularly butter and anhydrous milk fat, according to a report from ANZ Research.Further, overall card spending fell 2.5% in April, but was up 4.4% compared with the same time last year, ANZ Research said in a note.In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) acknowledged recent media reports about its ongoing strategic review of the residential and development division, including speculation around a potential industrial property sale, but declined to provide further comment.Synlait Milk (ASX:SM1, NZE:SML) obtained two waivers in relation to its syndicated loan facilities, as external challenges continue to strain the company's financial performance.

^NZ50ASX:FBUASX:SM1NZE:FBUNZE:SML
Asia

Fletcher Building Flags Ongoing Residential Review, Asset Sales Underway

Fletcher Building (ASX:FBU, NZE:FBU) acknowledged recent media reports about its ongoing strategic review of the residential and development division, including speculation around a potential industrial property sale, but declined to provide further comment, according to a Tuesday filing with the Australian and New Zealand bourses.The company reiterated that the strategic review remains ongoing and that sales processes for industrial land are already underway alongside the Felix Street property divestment, the filing added.

ASX:FBUNZE:FBU
Asia

NZX Midday Sector Update: Consumer Durables Sector Soars, Non-Energy Minerals Decline

Shares of the consumer durables sector gained the most on New Zealand's Exchange, rising past 3% on Thursday.Shares of KMD Brands (NZE:KMD, ASX:KMD) rose over 3% in recent trade.Meanwhile, non-energy minerals shares fell 1%.Fletcher Building (NZE:FBU, ASX:FBU) was down nearly 1% in recent trade.

^NZ50ASX:FBUASX:KMDNZE:FBUNZE:KMD
Asia

New Zealand Shares Fall; AM Best Affirms Tower Ratings at 'A-Excellent' With Stable Outlook

New Zealand shares closed lower on Tuesday amid reports of US President Donald Trump being unsatisfied with Iran's latest proposal to end the US-Iran conflict.The S&P/NZX 50 Index fell 0.86% or 110.54 points to close at 12,764.40.Trump is "unhappy" with Iran's latest proposal to resolve the two-month conflict, according to a Tuesday Reuters report, citing a US official.New Zealand signed a free trade agreement (FTA) with India on Monday that lowers tariffs on key fruit imports such as kiwifruit and apples, expands opportunities for Indian exports, and eases visa access as the two countries deepen economic ties, according to a Monday Reuters report.In domestic news, the total business count across New Zealand fell to 599,352 in March from 599,625 in February, according to data from Stats NZ.Also, the seasonally adjusted number of filled jobs across New Zealand industries rose 0.3% month on month to 2.4 million in March, following a 0.2% increase in the previous month, data from Stats NZ showed.Further, home lending in New Zealand increased almost 18% in the six months through December 2025, with first-home buyers receiving nearly a quarter of new residential loans in the period, the New Zealand Banking Association (NZBA) said.In corporate news, Tower (ASX:TWR, NZE:TWR) said AM Best has reaffirmed its financial strength rating at "A-Excellent" and its long-term issuer credit rating at "a-Excellent," both with a stable outlook.Fletcher Building (ASX:FBU, NZE:FBU) entered a binding conditional agreement to sell its Fletcher Reinforcing and Wire business to United Industries for NZ$15.7 million.

^NZ50ASX:FBUASX:TWRNZE:FBUNZE:TWR
Asia

Fletcher Building to Sell Reinforcing, Wire Unit to United Industries for Nearly NZ$16 Million

Fletcher Building (ASX:FBU, NZE:FBU) entered a binding conditional agreement to sell its Fletcher Reinforcing and Wire business to United Industries for NZ$15.7 million, according to a Tuesday filing with the New Zealand bourse.The transaction is subject to standard completion conditions, including approval from the New Zealand Commerce Commission and certain third-party consents, and is expected to close before the end of the year, per the filing.The final purchase price will be adjusted based on working capital and net debt, with the company expecting to record a loss on the sale of around NZ$20 million to NZ$23 million upon completion, the filing added.

ASX:FBUNZE:FBU
Asia

NZX Midday Sector Update: Industrial Services Stocks Rise, Non-Energy Minerals Decline

Industrial services gained the most among New Zealand sectors on Tuesday, advancing 2%.Ventia Services Group (NZE:VNT, ASX:VNT) gained 2% in recent trade.Meanwhile, non-energy minerals shares fell almost 2%.Fletcher Building (NZE:FBU, ASX:FBU) was down nearly 4% in recent trade.

^NZ50ASX:FBUASX:VNTNZE:FBUNZE:VNT
Asia

New Zealand Shares End Slightly Higher Amid Rising Middle East Tensions; Channel Infrastructure Secures Deal to Expand Diesel Storage at Marsden Point

New Zealand shares ended marginally higher on Monday after tensions rose in the Middle East, as the end of the two-week US-Iran ceasefire draws near.The S&P/NZX 50 Index edged up 0.1% or 9.8 points to close at 12,915.45.Tensions rose in the Middle East as the US seized an Iranian cargo ship and Iran's top military command vowed to retaliate. US President Donald Trump said he was sending envoys for talks in Pakistan. However, Iran rejected new peace talks with the US, its state news agency reported.Trump said he would launch new strikes on Iran if it didn't agree to his terms.In domestic news, New Zealand recorded a goods trade surplus of NZ$698 million in March, compared with a deficit of NZ$364.7 million in February, Stats NZ data showed. Goods exports rose 7.3% to NZ$7.94 billion, while imports rose 9.6% to NZ$7.25 billion..New Zealand's first-quarter consumer price index is anticipated to rise by 0.8% quarter on quarter and 2.9% year on year, which is slightly below the Reserve Bank of New Zealand's revised April forecast of 3%, brokerage firm BofA Securities said.In corporate news, Channel Infrastructure (NZE:CHI, ASX:CHI) confirmed an agreement with the New Zealand Government to add 93 million liters of diesel storage at its Marsden Point Energy Precinct, equivalent to around nine more days of national diesel demand.Genesis Energy (NZE:GNE, ASX:GNE) reached a final investment decision on the second stage of its battery energy storage system program at Huntly Power Station on New Zealand's North Island, with an estimated project cost of about NZ$106 million.Lastly, Fletcher Building (NZE:FBU, ASX:FBU) said the planned sale of Fletcher Construction to Vinci Construction has cleared key regulatory approvals in New Zealand, including Overseas Investment Office consent and confirmation from the Commerce Commission that it will not further review the transaction.

^NZ50ASX:CHIASX:FBUASX:GNENZE:CHINZE:FBUNZE:GNE
Asia

Fletcher Building Clears Key Approvals for Sale of Fletcher Construction

Fletcher Building (ASX:FBU, NZE:FBU) said the planned sale of Fletcher Construction to Vinci Construction has cleared key regulatory approvals in New Zealand, including Overseas Investment Office consent and confirmation from the Commerce Commission that it will not further review the transaction, according to a Monday filing with the New Zealand bourse.The company said that the deal is not yet finalized, as it remains subject to certain counterparty consents and restructuring steps, with completion now expected by the end of fiscal 2026, the filing added.

ASX:FBUNZE:FBU
Asia

New Zealand Shares Flat Amid Hopes of US-Iran Peace Talks; Contact Energy Posts Higher March Retail Electricity, Gas Sales

New Zealand shares ended flat on Thursday, while most Asian markets saw gains as investors saw growing optimism around US-Iran peace talks after Israel discussed a possible ceasefire against Lebanon.The S&P/NZX 50 Index was little changed to close at 13,066.06.On Wednesday, the Nasdaq Composite added 1.6%, the S&P 500 gained 0.8%, and the Dow Jones fell 0.2%.Israel's security cabinet met on Wednesday to consider a potential ceasefire in Lebanon, according to a Wednesday Reuters report, citing a senior Israeli official."As we ⁠move into the heart of earnings season, the focus is shifting back toward fundamentals, with a more idiosyncratic, stock-driven environment beginning to take hold," said Scott ​Rubner, head of equity and equity derivatives strategy at Citadel Securities, as quoted by Reuters in a separate report.In domestic news, New Zealand's nationwide housing market value rose by 0.2% year-on-year in March, with Auckland down 1.2% and areas outside Auckland seeing a modest 1.1% rise, Real Estate Institute of New Zealand (REINZ) said.Also, Businesses in New Zealand say they are experiencing considerable disruptions due to the Middle East conflict and the resulting surge in oil prices, Westpac said in a report.In corporate news, Contact Energy (ASX:CEN, NZE:CEN) said retail mass-market electricity and gas sales increased year on year in March, alongside a rise in wholesale contracted electricity sales.Fletcher Building (ASX:FBU, NZE:FBU) reported modest improvements in key product volumes for the fiscal third quarter, with gains in light building products and distribution partially offset by continued weakness in heavy materials and residential activity.

^NZ50ASX:CENASX:FBUNZE:CENNZE:FBU
Asia

Fletcher Building Says Fiscal Q3 Volumes Signal Early Recovery Across Portfolio

Fletcher Building (ASX:FBU, NZE:FBU) reported modest improvements in key product volumes for the fiscal third quarter, with gains in light building products and distribution partially offset by continued weakness in heavy materials and residential activity, according to a Thursday filing with the New Zealand bourse.The company's March quarter volumes for its residential unit fell 24% from a year earlier, while volumes rose 6.6% for its distribution unit, and mostly declined across its heavy building materials segment, whereas its light building products segment showed mixed to modest growth overall, per the filing.The company noted that rising global risks linked to the Middle East conflict are increasing fuel and material costs, which it is managing through hedging, pricing actions, and diversified sourcing, but early signs of softer construction demand are emerging, the filing added.

ASX:FBUNZE:FBU
Asia

NZX Midday Sector Update: Non-Energy Mineral Stocks Jump, Consumer Non-Durables Struggle

Non-energy mineral stocks advanced more than 1% at midday Monday.Fletcher Building (NZE:FBU, ASX:FBU) shares rose past 2% in recent trade.On the flip side, the consumer non-durables sector struggled, shedding past 20%.Fonterra Co-operative Group (NZE:FCG) fell almost 28% after the company's roughly NZ$3.2 billion capital return to shareholders was implemented on April 10.

^NZ50ASX:FBUNZE:FBUNZE:FCG

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