Leaked: Fletcher pipe problem will cost A$1.8b, major builder claims

Leaked: Fletcher pipe problem will cost A$1.8b, major builder claims
Thousands of Perth home owners are experiencing leaky pipes. (Image: Iplex)
Victoria Young
Problems with Fletcher Building subsidiary Iplex will cost the company A$1.8 (NZ$1.9) billion, one of Western Australia’s biggest home builders claims. However, Fletcher says the figures produced by Australian firm BGC are “designed to be inflammatory.”NZX-listed Fletcher has been in a trading halt since lunchtime today after BusinessDesk asked questions about the Iplex pipe problem.  BGC’s independent experts say the problem is the pipe itself, and not its installation as Fletcher continues to claim. Flet...

More Markets

Market ends week down but Briscoe defies guidance
Markets Market close

Market ends week down but Briscoe defies guidance

The S&P/NZX 50 Index is down 1.5% since the beginning of the year.

Graham Skellern 10 Jan 2025
Briscoe Group downgrades FY guidance after slow December
Retail

Briscoe Group downgrades FY guidance after slow December

The downgrade comes ahead of Jan 26, when Briscoe's financial year ends.

Gregor Thompson 10 Jan 2025
NZ market remains in ‘limbo’ ahead of Trump‘s second term
Markets

NZ market remains in ‘limbo’ ahead of Trump‘s second term

The S&P/NZX 50 Index closed down 0.76% or 99.37 points to 12,944.

Tom Raynel 09 Jan 2025