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NEWS RELEASE Fletcher Building Fletcher Building announces FY21 half year results and dividend Auckland , 17 February 2021 : Fletcher Building today announced its results for the first half of FY21 . Summary : Revenue of $ 3,987 million , up 1 % from $ 3,961 million in HY20 EBIT before significant items of $ 323 million , up 47 % from $ 219 million in HY20 Net Profit After Tax of $ 121 million , up 48 % from $ 82 million in HY20 Strong cash flows from operating activities of $ 428 million ; strong balance sheet Interim dividend of 12 cents per share declared , to be paid on 24 March 2021 FY21 EBIT before significant items guidance range $ 610 million to $ 660 million Fletcher Building Chief executive Ross Taylor said : “ Our strong HY21 results reflect good progress made on our strategy to drive consistent performance and growth . The improved earnings and profitability are the outcome of initiatives undertaken over the past three years to improve operating disciplines and efficiencies across the Group . " Group revenue was $ 3,987 million , up 1 % on HY20 . EBIT before significant items was $ 323 million , up 47 % from $ 219 million . Group cash flows from operating activities of $ 428 million were significantly higher than the $ 5 million outflow in the prior period , resulting from a higher EBIT and a material improvement in working capital . Group EBIT margins improved to 8.1 % from 5.5 % , with improvement across all operating divisions . " We have seen a broadly stable market environment . Growth in the New Zealand residential sector has been offset by softer demand in Commercial and mixed conditions in infrastructure in both New Zealand and Australia . In all businesses , we have remained focused on executing our strategy , especially improving the underlying disciplines and efficiencies of our operations . The sustainable improvement in margins was achieved through pricing disciplines ; targeted share gains ; consolidation and automation of manufacturing and supply chains ; and a more efficient overhead cost base . " Overall , market factors – volume , share and price - contributed 15 % of the Group's increased EBIT while around 85 % was the result of strategic improvements in operating efficiency . Fletcher Building Limited , Private Bag 92114 , Auckland 1142 , 810 Great South Road , Penrose , Auckland 1061 , New Zealand