Fletcher Building predicts lower 2025 performance

Fletcher Building has provided an update on its trading performance and outlook for the 2025 financial year.

Managing director and chief executive Andrew Reding revealed that the company's materials and distribution businesses experienced a decline in market volumes, with first-quarter volumes 10% to 15% lower than the previous year.

September trading also showed a 12% decrease in revenues compared to the same month last year.

In the residential and development division, house sales averaged 17 per week in the first quarter, down from 23 per week in the same period last year.

However, there was an improvement in house sales in September, with an average of 21 sales per week.

The construction division performed well, with improved earnings and margins in the first quarter.

Fletcher Building expects market volumes in its materials and distribution businesses to be 10% to 15% lower in the 2025 financial year.

The company anticipates 60% of its ebit before significant items in the 2025 financial year to be weighted towards the second half.

Acting chair Barbara Chapman announced her intention to step down from the board upon the appointment of a new chair.