Fletcher Building's incoming boss reveals 'deep dive' review and $180m cost cutting

Fletcher Building's incoming boss reveals 'deep dive' review and $180m cost cutting
Incoming managing director Andrew Reding led Fletcher Building's investor call on Monday. (Image: Fletcher Building)
Rebecca Stevenson
Fletcher Building’s incoming boss Andrew Reding has revealed plans for a “deep dive” strategic review of the struggling building giant with costs to be slashed by $180 million. The dual-listed building materials and construction giant has announced a $700 million capital raise to ease its pressured balance sheet and remove the onus to undertake asset sales when the market is weak. About $678m will be used to pay down debt with $22m to be spent on fees and expenses for the raise. After the equity raise, net debt would...

More Markets

NZ stocks end flat as US Fed decision looms
Markets Market Close

NZ stocks end flat as US Fed decision looms

Market finishes slightly down as telco company Spark loses more ground.

Jamie Gray 12 Sep 2025
Locate Technologies plans to quit ASX for NZX
Markets

Locate Technologies plans to quit ASX for NZX

Bitcoin-favouring Locate Technologies eyes move to NZX's main board.

Staff reporters 12 Sep 2025
Vital takeover bid passes threshold at 11th hour
Markets

Vital takeover bid passes threshold at 11th hour

Tait International has secured acceptances to meet the 90% minimum condition for its Vital takeover less than a day before the offer was set to expire.Vital filed a substantial product holder (SPH) notice to the NZX on Friday morning, which showed Tait's stake lifted to 92.1%...

Gregor Thompson 12 Sep 2025
Tower again hikes FY underlying profit outlook
Markets

Tower again hikes FY underlying profit outlook

Insurer sees FY underling profit up as large events weigh less than expected     

Staff reporters 12 Sep 2025