Yawn, nothing will come of any construction inquiry except more wasted money.
Printable View
My takes on Fletcher's (FBU):
Interim Accounts to 31 December, 2021
https://recastinvestor.substack.com/...tcher-building
and
Annual Accounts to 30 June, 2021
https://recastinvestor.substack.com/...tcher-building
Feedback welcome.
Just completing Steel & Tube funnily enough. Should be up today or tomorrow. Cheers.
Housing consents smash 48-year record
https://www.interest.co.nz/property/...-year-february
Thanks Winner, no real surprise and there is still so much new house build demand in system. Shareprice way over sold.
Craigs continues to be optimistic about FBU in their latest report, but the market is not showing much love.
Talked to a fundie who has exited their FBU position:
FBU’s biggest earner is its residential housing division. The company has been enjoying huge windfall profits from its land bank and ever escalating house prices. Division will continue to be profitable but will be hard pressed to deliver the sort of profits it has in recent years. In fact, the fundie expects the division to report reduced profits from 2023.