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

Jarden downgrades A2 Milk to underweight
Primary Sector

Jarden downgrades A2 Milk to underweight

Analysts nudge up their 12-month target price for A2 to $7.85 from $7.80.

Sharesies unleashes crypto coins on platform
Finance

Sharesies unleashes crypto coins on platform

The average spend during the beta launch has been about $1,000.

Comvita's survival 'uncertain' if shareholders reject takeover bid
Markets

Comvita's survival 'uncertain' if shareholders reject takeover bid

The board says there is no better offer on the table than the one from Florenz.

Full year result tracking to forecast: Co-operative Bank
Finance

Full year result tracking to forecast: Co-operative Bank

Tj FY2026 and core banking system replacement tracking in line.