Fletcher shares fall 2.9% as convention centre takes another $105m hit

Convention centre woes continue. (Image: Getty)

Tue, 08 Aug 2023

Fletcher Building shares fell 2.9% after the country’s biggest listed construction company said it would take an extra $105 million provision on the cost of the much-delayed New Zealand International Convention Centre and hotel in downtown Auckland. The company had already flagged a potential uplift in construction costs of as much as $50m during its June investor day, and today said it would recognise that sum in total in the upcoming annual result. It also said its contract works insurance revenue would be $20m lower due to ad...

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