Ann: HALFYR: FBI: Fletcher Building Industries Ha

• Release Date: 20/02/14 12:28
• Summary: HALFYR: FBI: Fletcher Building Industries Half Year Results Announcement
• Price Sensitive: No
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					FBI
20/02/2014 10:28
HALFYR

REL: 1028 HRS Fletcher Building Industries Limited

HALFYR: FBI: Fletcher Building Industries Half Year Results Announcement

Name of Listed Issuer: Fletcher Building Industries Limited

For Half Year Ended: 31 December 2013

The amounts as presented have been prepared in accordance with NZ IAS 34
Interim Financial Reporting and give a true and fair view of the matters to
which the report relates and are based on unaudited accounts.

OPERATING STATEMENT FOR THE HALF YEAR ENDED 31 DECEMBER 2013

Unaudited

Current Half Year NZ$000 Up/Down %; Previous Corresponding Half Year NZ$000

Total operating revenue: $31,784; up 54%; $20,684.

OPERATING SURPLUS/(LOSS) BEFORE SIGNIFICANT ITEMS AND TAX: $11,022; NM; $946.

Significant items for separate disclosure: 0; N/A; 0

OPERATING SURPLUS/(LOSS) BEFORE TAX: $11,022; NM; $946.

Plus tax benefit on operating profit: $5,813; Up 5%; $5,526.

OPERATING SURPLUS/(LOSS) AFTER TAX BUT BEFORE MINORITY INTERESTS: $16,835; Up
160%; $6,472.

Less minority interests: 0; n/a; 0

OPERATING SURPLUS/(LOSS) AFTER TAX ATTRIBUTABLE TO MEMBERS OF LISTED ISSUER:
$16,835; Up 160%; $6,472.

Extraordinary items after tax attributable to Members of the Listed Issuer:
0: n/a: 0.

OPERATING SURPLUS/(LOSS) AND EXTRAORDINARY ITEMS AFTER TAX ATTRIBUTABLE TO
MEMBERS OF THE LISTED ISSUER: $16,835; Up 160%; $6,472.

Earnings per share: n/a

Final Dividend: n/a

Record date:

Date Payable:

Tax credits on latest dividend:

Fletcher Building Industries Limited is a wholly owned subsidiary of Fletcher
Building Limited, and is the issuer of capital notes, which are guaranteed by
Fletcher Building on an unsecured subordinated basis. The financial position
of the company should be considered in conjunction with the financial
statements of Fletcher Building.

Refer attached press release.

FLETCHER BUILDING INDUSTRIES LIMITED

HALF-YEAR RESULTS ANNOUNCEMENT

Auckland, 20 February 2014 - 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 half-year to 31 December 2013 are:

o Net profit after tax $16.8 million
o Net assets $238.8 million

The net profit after tax of $16.8 million compares with $6.5 million for the
comparable previous period. 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 equity earnings increased the profit
substantially from the prior period reflecting the improved conditions the
New Zealand businesses experienced in the six months to 31 December 2013.

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 33.1% 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
Group General Manager
Investor Relations and Capital Markets
Phone: +64 9 525 9043
Mobile: +64 27 444 0203

End
End CA:00247260 For:FBI    Type:HALFYR     Time:2014-02-20 10:28:26