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37 stories mentioning NZE:FBUUpdated 3d ago

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Asia

Fletcher Building's Unit Secures Government Grant Funds for NZU Acquisition

Fletcher Building (ASX:FBU, NZE:FBU) has confirmed that Golden Bay Cement has met the conditions of its grant funding agreement with the New Zealand Government, enabling the release of grant funds used to purchase New Zealand Units (NZUs), according to a Monday filing with the Australian and New Zealand bourses.The acquisition of these NZUs ensures the continued operation of Golden Bay Cement's domestic manufacturing facilities through 2040, strengthening New Zealand's construction materials supply chain and supporting more than 600 jobs across the Whangarei district, the filing added.

ASX:FBUNZE:FBU
Asia

NZX Midday Sector Update: Technology Services Advance, Non-Energy Minerals Fall

Technology services shares gained the most on New Zealand's Exchange, rising nearly 2% by midday Friday.Shares of Gentrack Group (NZE:GTK, ASX:GTK) rose 2% in recent trade.Meanwhile, non-energy minerals shares fell almost 2%.Fletcher Building (NZE:FBU, ASX:FBU) was down nearly 2% in recent trade.

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Asia

New Zealand Shares Flat; Fletcher Building Secure NZ$60 Million Government Deal for Golden Bay Cement

New Zealand shares were flat on Monday despite a surge in oil prices in the wake of the escalating conflict in the Middle East.The S&P/NZX 50 Index was little changed to close at 13,696.03.Brent crude oil futures rose around 2% to over $90 per barrel. The US and Iran continued to trade strikes for over a week after an earlier ceasefire seemed to break down.In domestic news, New Zealand recorded a goods trade surplus of NZ$22.7 million in June, compared with a surplus of NZ$576.8 million in May, Stats NZ data showed. Goods exports rose 25% to NZ$8.09 billion, while imports rose 28% to NZ$8.07 billion.In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) said New Zealand's government granted its Golden Bay Cement unit up to NZ$60 million as part of an agreement to support the subsidiary's continued operations in the country.Comvita (NZE:CVT) appointed Emma Blott as chief commercial officer, starting July 6.

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Asia

NZX Midday Sector Update: Non-Energy Minerals Stocks Advance, Distribution Services Sector Struggles

Non-energy minerals stocks advanced nearly 1.7% at midday Monday.Fletcher Building (NZE:FBU, ASX:FBU) gained nearly 2% in recent trade after the New Zealand Government granted its Golden Bay Cement unit up to NZ$60 million as part of an agreement to support the subsidiary's continued operations in the country.On the flip side, the distribution services sector struggled, shedding nearly 2%.Vulcan Steel (NZE:VSL, ASX:VSL) shares fell almost 2% in recent trade.

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Asia

Fletcher Building Secure NZ$60 Million Government Deal for Golden Bay Cement

Fletcher Building (ASX:FBU, NZE:FBU) said New Zealand's government granted its Golden Bay Cement unit up to NZ$60 million as part of an agreement to support the subsidiary's continued operations in the country, according to a Monday filing with the Australian and New Zealand bourses.Golden Bay operates New Zealand's only domestic cement manufacturing facility, supplying about 60% of the cement used in the country, per the filing.The agreement follows an independent assessment, which showed that without support, rising costs would force the facility's closure and result in a shift to an import-only model from 2030.Golden Bay committed to continuing cement production at its Northland plant until at least 2040, and to invest at least NZ$150 million through to 2040 in operations, optimization, resilience, and decarbonization initiatives, the company said.Fletcher Building's New Zealand shares gained 1% in recent Monday trade.

ASX:FBUNZE:FBU
Asia

NZX Biggest Gainers

Here are the NZX-listed companies with the biggest gains on Friday.SkyCity Entertainment Group (NZE:SKC): +6%, NZ$0.57Gentrack Group (NZE:GTK): +4%, NZ$3.78Vulcan Steel (NZE:VSL): +3%, NZ$6.23Property For Industry (NZE:PFI): +3%, NZ$2.39Fletcher Building (NZE:FBU): +2%, NZ$3.73Marlin Global (NZE:MLN): +1%, NZ$0.75Stride Property Group (NZE:SPG): +1%, NZ$1.19Vista Group International (NZE:VGL): +1%, NZ$2.46Rua Gold (NZE:RGI): +1%, NZ$1.57Channel Infrastructure (NZE:CHI): +1%, NZ$3.24

^NZ50NZE:CHINZE:FBUNZE:GTKNZE:MLNNZE:PFINZE:RGINZE:SKCNZE:SPGNZE:VGLNZE:VSL
Asia

NZX Midday Sector Update: Non-Energy Minerals Advances, Electronic Technology Declines

Shares of non-energy mineral firms gained the most on New Zealand's Exchange, rising over 1% by midday Thursday.Shares of Fletcher Building (ASX:FBU, NZE:FBU) rose over 1% in recent trade.Meanwhile, the electronic technology sector fell almost 2%.ikeGPS Group (NZE:IKE, ASX:IKE) shares fell about 2% in recent trade.

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Asia

New Zealand Shares Rise; Fletcher Building Lifts Fiscal 2026 EBIT Guidance

New Zealand shares ended higher on Thursday, trading close to their recently acheived all time highs while investors remained cautious after renewed US-Iran tensions.The S&P/NZX 50 Index rose 0.88% or 120.49 points to close at 13,785.67.The US military said on Wednesday it launched fresh strikes on Iran to keep the Strait of Hormuz open to shipping, prompting Iranian retaliatory attacks on Kuwait and Bahrain in an escalation that threatens to derail efforts to end the conflict, according to a Wednesday Reuters report.The Nasdaq Composite rose 0.2% on close, the S&P 500 lost 0.3%, and the Dow Jones decreased 1.1%.In domestic news, New Zealand's manufacturing sector expanded in June, reaching its strongest reading since the rebound in July 2021 following the pandemic, as positive sentiment returned for the first time in recent months, BusinessNZ said.Also, the Light Traffic Index in New Zealand in June fell 0.5% sequentially and 0.4% year over year due to higher fuel prices, ANZ Research said in a report.Further, borrowing costs in New Zealand are poised to rise further as the country's central bank will likely follow its first rate hike in three years with a sequence of 25-basis-point increases, BNZ Research said.In corporate news, New Zealand Rural Land (NZE:NZL) suspended its 2026 earnings guidance after Kiwi Crunch Farms, a tenant accounting for 5.8% of rental income in its 75%-owned land partnership, entered voluntary administration and receivership.

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Asia

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

Non-energy mineral stocks advanced past 3% at midday Monday.Fletcher Building (NZE:FBU, ASX:FBU) shares rose nearly 3% in recent trade.The company on Thursday upgraded its fiscal year 2026 earnings before interest and taxes (EBIT) guidance by around 6.4% to NZ$400 million to NZ$403 million, supported by an estimated NZ$52 million contribution from surplus property sales.Meanwhile, the consumer durables sector fell almost 3%.KMD Brands (NZE:KMD, ASX:KMD) was down nearly 3% in recent trade.

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Asia

Fletcher Building Lifts Fiscal 2026 EBIT Guidance; Shares Up 6%

Fletcher Building (ASX:FBU, NZE:FBU) upgraded its fiscal 2026 earnings before interest and taxes (EBIT) guidance by around 6.4% to NZ$400 million to NZ$403 million, supported by an estimated NZ$52 million contribution from surplus property sales, according to a Thursday filing with the Australian and New Zealand bourses.The company said continuing operations are expected to deliver fiscal 2026 EBIT of NZ$348 million to NZ$351 million, which is around 3.6% above the midpoint of its mid-June guidance, excluding property sales, per the filing.Performance improved due to stronger procurement, manufacturing productivity, low-cost scrap use, higher Iplex demand, and solid infrastructure activity, though macroeconomic uncertainty and cost inflation may weigh on the first half of fiscal 2027 as new projects are delayed or cancelled, the filing said.Light Building Products delivered stronger fourth-quarter volumes, with Iplex New Zealand and Comfortech volumes up 24.6% and 6.3% year on year, respectively, while Heavy Building Materials showed a mixed recovery, with improved quarterly volumes but some businesses still tracking below prior-year levels.Distribution Division volumes at PlaceMakers Frame and Truss increased nearly 13% year on year, supported by the Cavendish Drive facility, while Residential profit completions declined to 220 units in fourth quarter from 247 units, the filing added.The company's Australian shares rose by around 6% in Thursday trading, while its New Zealand shares gained 4%.

ASX:FBUNZE:FBU
Asia

New Zealand Shares Rise; Santana Volunteers Pause in New Zealand Gold Project Fast-Track Approvals Process to Provide Additional Information

New Zealand shares closed higher on Thursday as investors reacted to oil prices reaching pre-war levels amid tankers transiting through the Strait of Hormuz.The S&P/NZX 50 Index advanced 0.69%, or 92.39 points, to close at 13,493.05.Brent crude oil futures fell to around $72 per barrel. Gold fell below $4,000 for the first time since November 2025.In domestic news, total new residential mortgage lending in New Zealand rose to NZ$8.63 billion in May from NZ$7.99 billion in April, according to data from the Reserve Bank of New Zealand.In corporate news, Santana Minerals (ASX:SMI, NZE:SMI) decided to volunteer a pause period to provide additional data and reports, as well as provide time to workshop conditions with the regulators regarding the fast-track approvals process for the Bendigo-Ophir gold project in New Zealand's South Island.Fletcher Building (NZE:FBU, ASX:FBU) said that Moody's Investors Service confirmed that the ratings firm withdrew its Fletcher Building credit rating effective Thursday.a2 Milk (NZE:ATM, ASX:A2M) declared a fully franked special dividend of NZ$0.41355 per share, payable on July 24 to shareholders on record as of July 9.

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Asia

NZX Midday Sector Update: Health Technology Stocks Jump, Non-Energy Minerals Sector Struggles

Health technology stocks advanced 3% at midday Thursday.Fisher & Paykel Healthcare (NZE:FPH, ASX:FPH) gained more than 3% in recent trade.On the flip side, the non-energy minerals sector struggled, shedding more than 1%.Fletcher Building (NZE:FBU, ASX:FBU) shares fell marginally in recent trade after reporting that Moody's Investors Service confirmed that the ratings firm withdrew its Fletcher Building credit rating effective Thursday.

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Asia

Fletcher Building Says Moody's Confirms Withdrawal of Credit Rating

Fletcher Building (NZE:FBU, ASX:FBU) said that Moody's Investors Service confirmed that the ratings firm withdrew its Fletcher Building credit rating effective Thursday, according to same-day filings with the Australian and New Zealand bourses.The withdrawal was in in response to Fletcher Building's request.The company's New Zealand shares shed about 1% in recent Thursday trade.

ASX:FBUNZE:FBU
Asia

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

Non-energy mineral stocks advanced almost 3% at midday Monday.Fletcher Building (NZE:FBU, ASX:FBU) shares rose nearly 3% in recent trade.Meanwhile, the consumer durables sector fell almost 3%.KMD Brands (NZE:KMD, ASX:KMD) was down almost 3% in recent trade.

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Asia

Fletcher Building's Trading Update Broadly in Line With Consensus, Says Jefferies

Fletcher Building's (ASX:FBU, NZE:FBU) latest trading update was broadly in line with market expectations, excluding property sales, according to a Wednesday Jefferies note.The company said on Wednesday that it is moving to withdraw its credit rating at Moody's as the company has made progress in its transition to a more stable capital structure.The company reported stable trading conditions in the fiscal second half, but remains cautious on the economic outlook for fiscal year 2027, which Jefferies said is sensible.The investment firm said that near-term earnings growth is expected to be driven mainly by internal improvement initiatives, and the company remains well-positioned to benefit from any recovery in the New Zealand housing market.Jefferies has a buy rating on Fletcher Building with a price target of NZ$4.The company's Australian shares fell almost 1% in recent Thursday trade.

ASX:FBUNZE:FBU
Asia

New Zealand Shares Fall Slightly; Fletcher Building Reduces Net Debt, Plans to Withdraw Credit Rating at Moody's

New Zealand shares ended lower on Wednesday, following shares on Wall Street downwards.The S&P/NZX 50 Index fell 0.25%, or 33.15 points, to close at 13,392.98.On Tuesday, the Nasdaq Composite fell 1.15%, the S&P 500 was down 0.57%, and the Dow Jones rose 0.64% on close. Investors are awaiting the first US Federal Reserve meeting under new Chair Kevin Warsh.In domestic news, the New Zealand consumer confidence fell 14.3 points in the June quarter to 80.4 from 94.7 in the previous quarter, marking its lowest level since 2023, according to the Westpac-McDermott Miller Consumer Confidence index.New Zealand's current account deficit widened to NZ$4.55 billion in the March quarter, from NZ$4.45 billion in the previous quarter, Stats NZ data showed.In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) is moving to withdraw its credit rating at Moody's as the company has made progress in its transition to a more stable capital structure. Following the divestment of its construction division and other property sales, Fletcher expects to be at the midpoint of its NZ$400 million to NZ$900 million net debt target range as of June 30.Seeka (NZE:SEK) expects 2026 net profit before tax in the range of NZ$38 million to NZ$42 million, compared with NZ$47.5 million in the previous year. The company issued its first earnings outlook for the year after the completion of the 2026 kiwifruit harvests across New Zealand and Australia, noting that kiwifruit underpins its overall financial performance.

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Asia

Fletcher Building Reduces Net Debt; Plans to Withdraw Credit Rating at Moody's

Fletcher Building (ASX:FBU, NZE:FBU) is moving to withdraw its credit rating at Moody's as the company has made progress in its transition to a more stable capital structure, according to a Wednesday filing with the Australian and New Zealand bourses.Following the divestment of its construction division and other property sales, Fletcher expects to be at the midpoint of its NZ$400 million to NZ$900 million net debt target range as of June 30.The company said it expects fiscal 2026 earnings before interest and taxes of NZ$375 million to NZ$380 million, excluding discontinued items and including roughly NZ$40 million of property-related earnings.Additionally, Fletcher said six recent divestments and property sales are expected to contribute around NZ$450 million of net cash proceeds in the second half of fiscal 2026.The company's Kiwi shares were down 1% in recent Wednesday trade.

ASX:FBUNZE:FBU
Asia

NZX Biggest Gainers

Here are the NZX-listed companies with the biggest gains on Friday.a2 Milk Company (NZE:ATM): +11%, NZ$7.29Santana Minerals (NZE:SMI): +6%, NZ$0.67Scott Technology (NZE:SCT): +3%, NZ$2.82Heartland Group Holdings (NZE:HGH): +3%, NZ$1.23Fletcher Building (NZE:FBU): +3%, NZ$3.19EBOS Group (NZE:EBO): +3%, NZ$21.25Ryman Healthcare (NZE:RYM): +3%, NZ$2.33Spark New Zealand (NZE:SPK): +3%, NZ$1.95Mercury NZ (NZE:MCY): +2%, NZ$6.92Sky Network Television (NZE:SKT): +2%, NZ$3.18

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Asia

Fletcher Building Completes Sale of Construction Division to VINCI Construction

Fletcher Building (ASX:FBU, NZE:FBU) said it has completed the sale of its Construction Division to VINCI Construction, the construction arm of the VINCI Group, according to a Friday Australia and New Zealand bourse filing.The company's shares rose 2% in recent Friday trade.

ASX:FBUNZE:FBU
Asia

Fletcher Building's Sale of Construction Division to VINCI Construction Becomes Unconditional

Fletcher Building (ASX:FBU, NZE:FBU) said the sale of its construction division to VINCI Construction, the construction arm of the VINCI Group, has become unconditional, with completion of the transaction expected on May 29, according to a Friday filing with the Australian and New Zealand bourses.The deal value increased to about NZ$334 million from NZ$315.6 million, subject to working capital and net debt adjustments, after Higgins Contractors secured the East Waikato, Bay of Plenty, and Hawke's Bay integrated delivery contracts, the filing added.

ASX:FBUNZE:FBU

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