I think it was very cheap at $4.48 - happy to hold for 50% type gain over the medium term.
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Ok cool, thanks for that
From an aussie paper. ….Problems with Fletcher Building subsidiary Iplex will cost the company A$1.8 (NZ$1.9) billion, one of Western Australia’s biggest home builders claims.
Jeez $1.9billion ….at least they’ve set aside $15m
Wonder what will happen to share price after Fletchers have their say and trading resumes
Probably a market over reaction …..but Jarden will say something +ve about real exposure
Building and Energy’s thorough investigation, which encompassed inspections at more than 50 properties, has yielded valuable insights into the cause of pipe failures. The preliminary results indicated that installation work practices and workmanship were not contributing factors to these incidents. Instead, the focus has shifted to the failure of the product itself.
https://www.bgc.com.au/iplex-investigation/
700million to fix
https://www.businessnews.com.au/arti...ipe-burst-bill
Uninvestable?
Since the 1980's?
NZ inc needs companies like this to step up.
https://businessdesk.co.nz/article/o...c016-446239310
FBU could get reaaaaallllly cheap.
Interesting timing to not proceed with increased Directors fees and the pipes drama ……….probably thought if we have a billion dollar problem we better not pay ourselves more
See Taylor’s mates are coming out and saying it goes back to Adamson’s days as CEO ……but a cynic would say stuff ups in Taylor’s tenure will emerge in due course