Items filtered by date: Wednesday, 19 February 2025

New Zealand: Fletcher Building has reported its financial results for the first half of its 2025 financial year, which began on 1 July 2024. The group recorded sales of US$2.05bn, down by 7% year-on-year from US$2.21bn, and negative earnings before interest and taxation (EBIT) at a loss of US$14.9m. It previously recorded a positive EBIT of US$44.1m in the corresponding first half of its 2024 financial year.

Fletcher Building’s Concrete division’s sales fell by 5% to US$307m and its EBIT fell by 30% to US$28.1m. The division’s capital expenditure targeted ‘asset renewal, quarry extensions and key in-flight initiatives,’ including the commissioning of Firth Industries’ new Auckland ready-mix concrete plant. Firth Industries underwent an overall ‘continued reduction’ in production and truck resources, in line with a reduction in its volumes.