Fletcher confirms $196m annual loss, CEO pay falls 40%

Wed, 19 Aug 2020

As foreshadowed last week, Fletcher Building confirmed an annual net loss of $196 million due to further provisions for legacy construction losses and the impact of the coronavirus crisis.And the annual report shows chief executive Ross Taylor's remuneration has also taken a hit.Fletcher's loss for the year ended June compares with the previous year's $164 million net profit.The country's biggest listed construction company is forecasting the New Zealand market will shrink 25 percent this year and the Australian market will...

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