Higher costs, project delays dent Fletcher Building's annual profits
Auckland firm says net profit was NZ$94m, down from NZ$462m previously
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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.
