'We're doing our bit for the grid': Fletcher Building riding energy peaks, hit with huge power bill

Acting chief executive Nick Traber says the firm won't enter discussions for outside investment in its residential business with any preconceived ideas. (Image: Fletcher Building)

Rebecca Stevenson

Wed, 21 Aug 2024

Fletcher Building says higher energy prices are costing it up to $3 million more each month. The building giant reported its result for the year to June 30 on Wednesday morning, with its shares falling by about 6.7% in early trading after it posted a $227 million loss compared to a $235m profit in the previous financial year. Of note in the loss was a $117m write-down and impairment of its Higgins construction business and a $141m loss for its Tradelink Australian plumbing business, which is being sold. It also warned the outlook for...

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