Fletcher Building is one of the largest listed companies in New Zealand, with a market capitalisation of over NZ$2.8 billion. With around 20,000 employees globally and over 34 business units operating under the Fletcher Building banner, the company is Australasia’s largest building materials supplier. FBU’s headquarters are in Auckland, New Zealand.
“Residential construction makes up around half revenue for FBU,” says Julia. “With strong dwelling approvals in both Australia and New Zealand, its business is positioned well to ride the wave of government support,” she adds.
“The New Zealand housing market is bouncing faster than expected, with seasonally adjusted dwelling consents 12.6% in the December quarter 2020.
“With the outlook for its NZ businesses improving near term and Australian housing looking strong, FBU should continue to perform well,” she says.
And what’s a key risk?
“A key risk is that housing activity slows down after government support is withdrawn,” Julia noted.
Fletcher Building (FBU)
Source: Google
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