The company remains in a trading halt till 12.30pm today and the result is a 230 per cent drop in profit. He cited a backdrop of weaker trading conditions, particularly in the New Zealand residential building sector, where volumes fell 20 per cent. Forsyth Barr analysts had last week forecast $299m ebit before significant items from today’s result, down 17 per cent on 1H23. Craigs’ analysts estimated $327m ebit before significant items, down 9 per cent on 1H23. On Monday, the company went into a trading halt before today’s result.

Source: New Zealand Herald February 13, 2024 20:29 UTC