Fletcher Building has reported an $80 million drop in half-year profits, and warns that its full year earnings will also be expected to take a hit.

The company was hit hard by significant costs coming out of the repairs to Auckland's International Convention Centre after a major fire damaged the building.

Fletcher Building CEO Ross Taylor says that Fletcher's full-year profits for 2023 will be affected by the floods in the North Island, despite a strong performance.

Ross Taylor says Fletcher Building will be looking to put several construction projects on hold in the coming months.

LISTEN ABOVE

Fletcher Building has reported an $80 million drop in half-year profits, and warns that its full year earnings will also be expected to take a hit.
The company was hit hard by significant costs coming out of the repairs to Auckland's International Convention Centre after a major fire damaged the building.
Fletcher Building CEO Ross Taylor says that Fletcher's full-year profits for 2023 will be affected by the floods in the North Island, despite a strong performance.
Ross Taylor says Fletcher Building will be looking to put several construction projects on hold in the coming months.
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.