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

Thousands of Perth home owners are experiencing leaky pipes. (Image: Iplex)

Wed, 11 Oct 2023

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...

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