Fletcher Building Industries Limited (the Company) is a wholly-owned subsidiary of Fletcher Building Limited, and is the issuer of capital notes, which are guaranteed by Fletcher Building Limited on an unsecured subordinated basis.
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Financial results |
Year ended 30 June 2022 |
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Net earnings |
$86.3 million |
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Net assets |
$594.0 million |
The net earnings of $86.3 million compares to $74.0 million in FY21. As the Company owns 20 per cent of the shares in Fletcher Building Holdings New Zealand Limited, which in turn owns the shares in Fletcher Building’s New Zealand operating subsidiaries, its investment in that Company is equity accounted.
The financial performance of the Company should be considered in conjunction with the financial statements of the Fletcher Building Group, including the Group’s assessment of the preparation of the financial statements as a going concern.
The Company has operated in compliance with the terms of the Trust Deed under which the capital notes were issued.