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ABN Amro said it had assessed profit risk to be on the downside for seven companies - Fletcher Building, Freightways, Pumpkin Patch, Briscoe Group, Ebos Group, Just Water International and Tenon.
Balancing this, the broker predicted earnings from seven other companies - Nuplex, ING Medical Properties Trust, Steel & Tube, AMP NZ Office Trust, Mainfreight, New Zealand Oil & Gas and New Zealand Windfarms - could surprise on the upside.
Another ABN Amro analyst, Dennis Lee, said the slowing domestic residential market combined with the disappointing performance of international benchtop group Formica would have a "negative impact" on blue chip Fletcher Building's results. The consensus of analysts' expectations is for Fletcher to post annual net profit of between $398 million and $476 million.
There are, however, some bright spots: New Zealand Oil & Gas is expected to announced strong full year results, boosted by higher production in its Tui oil fields and record oil prices.
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http://www.nzx.com/news/markets/4635755
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-- no kidding..