Fletcher 'in far better shape', but 'swamped' by legacy issues: Reding

Fletcher Building managing director Andrew Reding at his first AGM. (Image: NZME)

Wed, 30 Oct 2024

Fletcher Building is in “far better shape” than expected, managing director Andrew Reding says. Reding appeared in front of shareholders as the building giant's new boss at its annual general meeting on Oct 23. He said Fletcher Building’s underlying businesses had been operating well but had been “swamped” by legacy issues. Those issues resulted in $180 million in additional provisions for legacy construction projects for the year to June 30. Overall, for the most recent financial year,...

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