Fletcher Building: cracks widen on blowouts, construction downturn

Fletcher Building: cracks widen on blowouts, construction downturn
NZ's largest building company "struggles" to pass on costs. (Image: FBU)
Brent Melville
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-...

More Property

Investore buys New Lynn Bunnings site for $43 million
Property

Investore buys New Lynn Bunnings site for $43 million

Investore Property has struck a deal to acquire the Bunnings complex in New Lynn, Auckland.The company told the market on Friday it had entered an unconditional agreement to acquire the property for $43 million.The 2.2-hectare site at 2–12 Titirangi Rd features an 11,000sq m buil...

Staff reporters 27 Jun 2025
Senior Trust offeror gets a serve from FMA
Property

Senior Trust offeror gets a serve from FMA

Senior Trust has been paying returns with new investor funds and borrowings.

Maria Slade 26 Jun 2025
Du Val build-to-rent properties sold, PwC says
Property

Du Val build-to-rent properties sold, PwC says

The 171 units in May Rd and McKenzie Rd were bought in 2021 for $35m.

Maria Slade 23 Jun 2025