Fletcher in trading halt over Australian pipes problem

Fletcher CEO Ross Taylor. (Image: NZME)

Wed, 11 Oct 2023

Fletcher Building is in a trading halt while it tries to work out what an Australian builder plans to present in relation to its leaky pipes in Western Australia. The building company took a $15 million provision in its June 2023 accounts while it tried to work out the extent of the problem, having made repairs to about 200 of 1,200-to-1,500 homes affected. The Iplex pipes in question were fitted in about 30,000 homes in Australia between 2017 and 2021, and were part of the 2010 Crane acquisition. Fletcher flagged it received a number...

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