Fletcher Building has reported a 7% decline in revenue from continuing operations for the first half of the 2025 financial year.
The company's revenue reached $3.58 billion, down from $3.86bn in the same period last year.
Earnings before interest and tax (ebit) from continuing operations and before significant items were also lower, at $167 million, compared to $263m in the prior period.
Fletcher Building reported a net loss after tax of $134m, compared to a net loss of $120m in the first half of FY24.
The company attributed the decline in revenue and ebit to lower market volumes in the materials and distribution divisions.
However, it said the construction division performed well, with a 16% increase in revenue, driven by higher work volumes from key infrastructure projects.
Fletcher Building's capital raise of $700m was used to repay bank debt and reduce US private placement.
The company said its cost-cutting programme is ahead of plan.
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