Poor trading conditions, intense price competition and lower building product sales have prompted Fletcher Building to downgrade its profit forecast.

The forecast has been downgraded $640 million to $540 million - move that caused stock to sink 15 percent.

Milford Asset Management's Mark Riggall explains what's causing Fletcher Building's economic woes.

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Poor trading conditions, intense price competition and lower building product sales have prompted Fletcher Building to downgrade its profit forecast.
The forecast has been downgraded $640 million to $540 million - move that caused stock to sink 15 percent.
Milford Asset Management's Mark Riggall explains what's causing Fletcher Building's economic woes.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Mark Riggall: Milford Asset Management portfolio manager on Fletcher Building's stock dropping by 15 percent

It's a big week for the rural community, as crowds flock to Waikato for Fieldays 2024.

From June 12 to 15, people will gather at Mystery Creek for the 56th running of the largest agricultural event in the Southern Hemisphere.

The Country host is predicting a 'subdued' mood from attendees ahead of this year's event.

LISTEN ABOVE

It's a big week for the rural community, as crowds flock to Waikato for Fieldays 2024.
From June 12 to 15, people will gather at Mystery Creek for the 56th running of the largest agricultural event in the Southern Hemisphere.
The Country host is predicting a 'subdued' mood from attendees ahead of this year's event.
LISTEN ABOVE

Jamie Mackay: The Country host on the predicted mood for Fieldays 2024

Opposition leader Chris Hipkins has overtaken the Prime Minister on net favourability, as support dropped for the coalition.

A Taxpayers' Union-Curia poll had Chris Luxon tumbling 13 points to negative five percent, with Hipkins up 4 points to three percent.

Both ACT and New Zealand First leaders have also seen a drop, with David Seymour down 11 points and Winston Peters down 14 points.

ZB senior political correspondent Barry Soper says it'll be a while before voters see what the Government has achieved.

LISTEN ABOVE

Opposition leader Chris Hipkins has overtaken the Prime Minister on net favourability, as support dropped for the coalition.
A Taxpayers' Union-Curia poll had Chris Luxon tumbling 13 points to negative five percent, with Hipkins up 4 points to three percent.
Both ACT and New Zealand First leaders have also seen a drop, with David Seymour down 11 points and Winston Peters down 14 points.
ZB senior political correspondent Barry Soper says it'll be a while before voters see what the Government has achieved.
LISTEN ABOVE

Barry Soper: ZB senior political correspondent on the latest Taxpayers' Union-Curia poll result

​On the Heather du Plessis-Allan Drive Full Show Podcast for Tuesday, 11 June 2024, Detective Inspector Graham Pitkethley gives an update on his homicide investigation following the death of a Te Kuiti baby.

The Climate Change Minister tells Heather why farmers shouldn't be paying for their emissions and will definitely be excluded from the Emissions Trading Scheme.

The Commerce Commission has revealed the fuel price trick that costs motorists millions every year.

Plus, the Huddle debates whether it's time we stopped paying politicians an accommodation allowance if they own the place they're staying in.

Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.

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​On the Heather du Plessis-Allan Drive Full Show Podcast for Tuesday, 11 June 2024, <a href="https://www.newstalkzb.co.nz/on-air/heather-du-plessis-allan-drive/audio/graham-pitkethley-detective-inspector-to-reinvestigate-previous-injuries-following-te-kuiti-baby-death/">Detective Inspector Graham Pitkethley gives an update on his homicide investigation following the death of a Te Kuiti baby.</a>
The Climate Change Minister <a href="https://www.newstalkzb.co.nz/on-air/heather-du-plessis-allan-drive/audio/simon-watts-climate-change-minister-on-the-decision-to-stop-farming-being-charged-through-emissions-trading-scheme/">tells Heather why farmers shouldn't be paying for their emissions and will definitely be excluded from the Emissions Trading Scheme.</a>
The <a href="https://www.newstalkzb.co.nz/on-air/heather-du-plessis-allan-drive/audio/terry-collins-aa-principal-policy-advisor-on-the-commerce-commission-issuing-warning-to-fuel-companies-over-prices/">Commerce Commission has revealed the fuel price trick that costs motorists millions every year.</a>
Plus, <a href="https://www.newstalkzb.co.nz/on-air/heather-du-plessis-allan-drive/audio/the-huddle-what-do-we-think-of-he-waka-eke-noas-scrapping/">the Huddle debates whether it's time we stopped paying politicians an accommodation allowance if they own the place they're staying in.</a>
Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.
LISTEN ABOVE

Mark Riggall: Milford Asset Management portfolio manager on Fletcher Building's stock dropping by 15 percent

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