Fletcher Building has confirmed a new focus on building materials.

The construction giant's announced a net loss of $419 million for the past year, compared to a loss of $227 million last year.

It's already been looking for buyers for its construction division and some other subsidiaries.

Fletcher CEO Andrew Reding says this is the toughest things have been since the GFC.

"It's highly unusual when you get both your residential infrastructure and your commercial market segments all crashing down at the same time."

LISTEN ABOVE

Fletcher Building has confirmed a new focus on building materials.
The construction giant's announced a net loss of $419 million for the past year, compared to a loss of $227 million last year.
It's already been looking for buyers for its construction division and some other subsidiaries.
Fletcher CEO Andrew Reding says this is the toughest things have been since the GFC.
"It's highly unusual when you get both your residential infrastructure and your commercial market segments all crashing down at the same time."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Andrew Reding: Fletcher Building CEO on the company posting a multi-million dollar net loss

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2318de8b-c96e-4c79-8faf-b33f0073f35d/transcript