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
See omnystudio.com/listener for privacy information.
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Nikki Glaser Podcast
Every week comedian and infamous roaster Nikki Glaser provides a fun, fast-paced, and brutally honest look into current pop-culture and her own personal life.