Fletcher slims

Unveiling a higher than expected $168 million June-year profit, Mr Waters said the buoyant housing markets in both New Zealand and Australia would probably start to slow down but any erosion of revenue would be offset by savings from combining Fletcher's three New Zealand board businesses and the $754 million Laminex acquisition.

Twenty managers have already left the company and Mr Waters said more would follow. Revenue rose to $3.2 billion, from $2.9 billion a year ago.

Mr Waters also announced the Building Depot and Hire-a-Hubby franchise businesses would be sold.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

CEN - Contact Chair to retire this year, new Chair appointed
May 1st Morning Report
GTK - Gentrack's Veovo Acquires Dubai Technology Partners
SML - Additional information following Bright Dairy announcement
April 30th Morning Report
Rua Bioscience Market Update
FSF - Fonterra announces interim leadership changes
April 29th Morning Report
NZK - Blue Endeavour Pilot Farm and Wellboat Update
TRU - FY 31 March 2026 Revenue and Results Guidance Achieved