Why the Fletcher Building (ASX:FBU) share price could shoot higher today

The Fletcher Building Limited (ASX: FBU) share price will be in focus on Wednesday following the release of its half year results.

In early trade in New Zealand, the company’s NZX-listed shares are up 3%.

How did Fletcher Building perform in the first half?

For the six months ended 31 December, Fletcher Building reported a 1% increase in revenue over the prior corresponding period to NZ$3,987 million.

Positively, things were much better for the building products company’s earnings.

It reported earnings before interest and tax (EBIT) growth of 47% to NZ$323 million. And on the bottom line, Fletcher Building reported a 48% jump in net profit after tax to NZ$121 million.

Management advised that this improvement in its…