Higher costs, project delays dent Fletcher Building's annual profits
Auckland firm says net profit was NZ$94m, down from NZ$462m previously
Add BT as a preferred source
Auckland
FLETCHER Building Ltd, New Zealand's biggest construction firm, posted a far larger-than-expected 80 per cent drop in full-year profits after project delays and spiralling costs.
The Auckland-headquartered firm said on Wednesday that its net profit in the year to June 30 was NZ$94 million (S$93 million), down from NZ$462 million in the prior 12-month period.
TRENDING NOW
Yeoh Pei Xien: YTL’s third-gen scion with a pastor’s heart
Singapore banks’ battle for wealth talent goes beyond private bankers
Car dealer charged in S$1.1 million tax evasion case involving Porsches, Ferraris, Rolls-Royces
Vietnam’s island megaproject races towards Apec deadline, but demand test looms
