Fletcher still faces the challenge of Australia

Chief executive Ross Taylor picked Dean Fradgley to turn Australia around. (Image: Getty)

Mon, 30 Aug 2021

Fletcher Building's annual results this year made for much pleasanter reading than for many a year, with the core New Zealand building products and distribution operations back to more acceptable profit margins.Even the problem child of the last few years, the construction division, is starting to put the $1 billion of losses on high-rise projects behind it, although the 2.1% margin for the year ended June is still below chief executive Ross Taylor's 3% to 5% target.The headline number, a net profit of $305 million compared with the pre...

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