Infrastructure

Should Fletcher Building persist with Australia?

Jenny Ruth
Tue, 23 Jul 2019

By Jenny Ruth July 24 (BusinessDesk) - Those who fail to learn from history are condemned to repeat it, goes the famous saying attributed to Winston Churchill and philosopher George Santayana. Fletcher Building’s near $1 billion in construction losses in New Zealand over 18 months are still fresh in investors’ minds, but the company also has a long history of losing money in Australia since it was split out of Fletcher Challenge in 2001. The $222 million of write-offs of the Tradelink and Iplex Australia businesses announced in the 201...

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