One would have to hope that Andrew Reding can turn this ship around. It's worrying that the stand out result he mentioned was the woke emissions goal of no financial benefit to shareholders, just proof of a large corporate rife with woke adherence to the climate crisis religion. Lets hope this is the last we see of this as a focus. I don't believe FBU are selling many products at risk of client's abandoning orders for carbon foot print issues.
Andrew Reding will have to use his own considerable acumen to drive change rather than listing to hired strategy consultants with no understanding or proven track record within the industry.
Would love to see him make the most obvious share holder value creative move by spinning off all the construction businesses, potentially into a new construction entity, and allow the remaining vertically integrated building materials supply company to stick to their knitting and stop mucking around in construction risk. This would end the group continuing to be hampered by the "poacher and game keeper" issues which have prevented the materials divisions truly able to shine. They've managed to farm this group from a $13 stock to $3 in the last 20 years. What a waste given their commanding duopolitic position in most materials supply sections of the the construction market.
Andrew will also be heavily relying on Luxon delivering a few billions into PPP projects this year to fire up demand, or both he and Luxon will be gone.
AIMHO DYOR
FBU Price at posting:
$3.00 Sentiment: Buy Disclosure: Not Held
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