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FBU, FLETCHER BUILDING LIMITED
plastic
post Posted: Aug 26 2020, 08:46 AM
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Recently been watching the volume for FBU in the mornings. Often just a few tens of thousands go through before Au opens. That is minuscule for a company the size of FBU.

Today in the first half hour, 7.6m shares have traded.

Wtf?

Someone reorganizing their capital? More like major transaction coming IMHO.



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What did Uncle Mel do to us?
 
plastic
post Posted: Aug 14 2020, 04:59 PM
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New exec ahead of break up and naming of shovel ready projects?



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What did Uncle Mel do to us?
 
plastic
post Posted: Aug 6 2020, 01:45 AM
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If everyone knows that a squeeze is coming, what are the proactive leaders going to do about it?



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What did Uncle Mel do to us?
 
plastic
post Posted: Aug 6 2020, 12:57 AM
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I'm not the only one who thinks a squeeze is coming.

https://www.nzherald.co.nz/business/news/ar...jectid=12353863

QUOTE
Sir John Key has warned the New Zealand business community to not be complacent about apparent buoyancy in retail, property and equity markets, as "we have a financial crisis coming".




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What did Uncle Mel do to us?
 
plastic
post Posted: Aug 3 2020, 07:28 PM
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Add to that, a downtown Auckland hotel has been shut down permanently because of Covid. Is in the process of being refurbed to help "address" the central city homeless problem.

Can you imagine the outcome of that?

Already there's been a crime spike. Rents have dropped. But behind it is an avalanche of new supply which is about to collapse the inner city property market. Just as soon as the vendors receive an incentive to do so. Might be interest rate rise, bank collapse, builder falls over who knows where the crack will show itself first.

But FBU must know something otherwise they wouldn't be spending tens of millions in Tauranga on their new plant.



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What did Uncle Mel do to us?
 
plastic
post Posted: Aug 3 2020, 09:13 AM
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Not sure about FBU but other construction companies I know off are losing tens of millions of dollars of forward orders from their corporate clients.

Times are changing. Squeeze coming.



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What did Uncle Mel do to us?
 

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plastic
post Posted: Jul 30 2020, 11:26 AM
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Since when does FBU turn over just sixty odd thousand shares by the middle of the afternoon?

Must be a transaction in the offing. Most likely a break up.



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What did Uncle Mel do to us?
 
plastic
post Posted: May 20 2020, 07:19 AM
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Hughie must wish he could disassociate his name from this monkey. All doom and gloom in todays update. Except the bit where they are making $50m available for a new gib plant. They know where the money comes from. If it was as dire as all that they would at least defer the project for a year or two until the dust has settled. A cynic might say, todays news is how they intend to pay for the new gib plant or perhaps its all about paring back operations to bare bones ahead of some other M&A or divestment.

Bring on the break up and then Hughie might finally get his wishes fulfilled.




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What did Uncle Mel do to us?
 
plastic
post Posted: Apr 13 2020, 03:08 PM
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$3bn market cap and $1bn in the bank. Don't know what kind of liabilities they are carrying regards the SCCC fire and other projects but I don't think a ratio of one to three is low enough yet. There is more to come with this.



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What did Uncle Mel do to us?
 
plastic
post Posted: Apr 5 2020, 10:48 AM
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Covid-19 must be the straw that finally breaks this camel's back. All the layoffs which will follow will have an effect. Disgruntled staff coming back having suffered severe wage cuts while the fat cats barely take a dent will leave a scar in the workforce's psyche.

The practice of Fletchers has long been pay more than the market rate, hire well and retain staff thereby maintaining a stable workforce and a competitive advantage over others. This may well need a rejig.

Let's not even think about what is still to come from the Sky City Convention Centre with regards liability and insurance disputes. Even though they have said everything is fine on that front, the fact is, it never is. For example, what if the insurer goes bust after this world wide lockdown? Who pays then?

What of any other contracts in dispute for missed deadlines?

A break up is looking inevitable. If its true that only wallboard and cement make the money in the organization, then it should not be their job to be topping up the losers for ever and a day?

Every time I check in on this one, the image that comes to mind is that of a ships captain with a cutlass poking him in the back and a baying crew of minions cheering as he inches ever closer to the end of the plank.

That English bloke really did a number on FBU. Made a fortune and now on to his next prize.




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What did Uncle Mel do to us?
 
 


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