June 3, 2019 / 10:34 PM / 16 days ago

NZ's Fletcher Building trims annual profit guidance after Formica sale

June 4 (Reuters) - New Zealand’s largest builder Fletcher Building Ltd on Tuesday lowered its operating profit guidance for fiscal year 2019, after completion of the sale of its Formica business to Broadview Holding BV.

The company now expects earnings before interest and tax before significant items for fiscal 2019 to be between NZ$620 million and NZ$650 million ($409.01 million to $428.81 million), compared to its earlier guidance of NZ$650 million to NZ$700 million. ($1 = 1.5158 New Zealand dollars) (Reporting by Shriya Ramakrishnan in Bengaluru; editing by Chris Reese)

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