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Fourth, Fletcher is selling Formica and the Roof Tile Group and that meant a focus solely on Australia and New Zealand, he said.

The company said it had done everything it said it would over the financial year, which included the successful completion of the sale of its Formica business for $1.2b.

This week the company is forecasting better days, giving guidance of group profit before tax at around $650m-$700m, depending on the sale timing of its Formica business.

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