14 Feb 2024

Shareholders call to break up Fletcher Building

From Morning Report, 7:24 am on 14 February 2024

The Shareholders Association says Fletcher Building's board should break up the company as investors brace for bad news this morning.

Fletcher Building shares were placed in a trading halt on Monday February 12.

The company surprised the market with cost increases to cover likely losses on a couple of big projects, the NZ International Convention Centre and Wellington Airport, now expected to be around $180million.

Chief executive of the Shareholders Association, Oliver Mander, spoke to Corin Dann.