Fletcher Building has reported a net loss of $227 million for the year ended June 30 2024, compared to a net profit of $235m in the previous year.
The company's group revenue from continuing operations remained flat at $7.68 billion.
However, it experienced a decline in earnings before interest and tax (EBIT), which were down 35% at $509m.
Fletcher Building's acting CEO, Nick Traber, acknowledged the challenges posed by slowing demand and competitive pressures, but highlighted the company's focus on optimising operational performance and managing costs.
He also mentioned the expectation of lower market volumes in the materials and distribution businesses for the upcoming year.
Fletcher Building ended the financial year with net debt of $1.8b and strong liquidity of $1.1b.
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