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

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

More Infrastructure

KiwiRail reveals $8m cost of McKinsey contract
Infrastructure

KiwiRail reveals $8m cost of McKinsey contract

Rail Minister Winston Peters calls it an unacceptable payment. 

Oliver Lewis 02 Apr 2025
Mainfreight praises 'logical, sensible' rail ferries decision
Infrastructure

Mainfreight praises 'logical, sensible' rail ferries decision

Port companies on both side of the Cook Strait also welcome increased certainty.

Oliver Lewis 01 Apr 2025
Meet your new ferries, New Zealand
Infrastructure

Meet your new ferries, New Zealand

Winston Peters confirms new Interislander ferries will be rail-enabled.

Oliver Lewis 31 Mar 2025
Developers make unsolicited bids for prime Chch rebuild site
Policy

Developers make unsolicited bids for prime Chch rebuild site

Crown Infrastructure Delivery is weighing up options for the massive site.

Oliver Lewis 28 Mar 2025