‘Legacy’ projects bite as Fletcher plunges to $227 million loss
Building company blames soft market and ‘significantly lower’ revenues in its materials and distribution divisions, foreshadows sale of residential business.
Fletcher Living could be next business on the block.
Building materials and construction conglomerate Fletcher Building has reported earnings at the lower end of its guidance, with earnings before interest and tax coming in at $509 million, down 35.2% on the comparable $785m for the June year.
After factoring in $333m in write downs and legacy
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