Fletcher Building has reported further declines in trading volumes and ongoing pressure on margins during the first quarter of the 2026 financial year.
The company's managing director and chief executive, Andrew Reding, attributed the softer performance to weak demand in key markets and heightened competitive activity, particularly in New Zealand.
In the light building products division, volumes were generally below the prior corresponding period, but slightly higher compared to the fourth quarter of the 2025 financial year.
The heavy building materials division experienced pronounced volume contractions, with Winstone Aggregates volumes falling.
The distribution division's PlaceMakers Frame & Truss volumes were flat to marginally higher, but margins contracted.
Fletcher Building anticipates challenging market conditions to persist throughout the financial year and is focusing on cash preservation and cost discipline.
The company is also implementing a cost-out programme targeting $100 million in annualised savings.
See more
