Fletcher Building: cracks widen on blowouts, construction downturn

NZ's largest building company "struggles" to pass on costs. (Image: FBU)

Thu, 08 Feb 2024

The down-cycle in New Zealand’s residential construction sector and costly provisions for ‘legacy’ developments, notably the NZ International Convention Centre in Auckland, could see investors fall out of love with Fletcher Building this coming Valentine’s Day.Craigs Investment Partners (CIP) research analysts Cameron Parker and Ryan Li expect NZ’s biggest building materials and residential building group to post earnings before interest and tax (Ebit) of $327 million for the half year on Feb 14, down 9% year-...

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