Ann: FLLYR: FBI: FB Industries Limited 2013 Annua

• Release Date: 21/08/13 11:18
• Summary: FLLYR: FBI: FB Industries Limited 2013 Annual Results
• Price Sensitive: No
• Download Document  1.65KB

					

FBI
21/08/2013 09:18
FLLYR

REL: 0918 HRS Fletcher Building Industries Limited

FLLYR: FBI: FB Industries Limited 2013 Annual Results

Auckland, 21 August 2013 - 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.

The financial results for the year to 30 June 2013 are:

. Net profit after tax $21.3 million

. Net assets $222.7 million

The net profit after tax of $21.3 million compares with a net profit after
tax for the comparable previous period of $11.8 million.  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.  An
increase in the equity earnings increased the profit compared with the prior
period, reflecting the improved conditions the New Zealand businesses
experienced.  In addition, lower interest costs incurred by the company
contributed to the improved result.

The financial performance of the company should be considered in conjunction
with the financial statements of the Fletcher Building group.  The debt to
debt plus equity ratio of the Fletcher Building group is sound at 33.3 per
cent.

The company has operated in compliance with the terms of the Trust Deed under
which the capital notes were issued.

Contact:

Philip King
General Manager, Investor Relations & Capital Markets
Phone: +64 9 525 9043
Mobile:  +64 27 444 0203
End CA:00239965 For:FBI    Type:FLLYR      Time:2013-08-21 09:18:26