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."

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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

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

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

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