NZ's Fletcher Building posts narrower first-half loss, sees near-term headwinds persisting (updated)

Fletcher Building

17/02/2026 21:12

Adds details on results

Feb 18 (Reuters) - New Zealand's Fletcher Building FBU.NZ reported a smaller first-half loss on Wednesday, helped by steady performance at its core manufacturing business, but said it expects market conditions to remain challenging in the near term.

The Auckland-based construction materials maker's net loss attributable narrowed to NZ$11 million ($6.65 million) in the six months ended December 31, from NZ$134 million a year ago.

Its Light Building Products division, which caters to the residential, industrial and commercial markets in New Zealand and Australia, reported operating earnings of NZ$164 million, a huge swing from a loss of NZ$12 million a year ago.

That offset lower volumes in New Zealand residential and civil markets and intense competition felt by its distribution division.

"In New Zealand, residential and civil demand is likely to remain relatively subdued through FY26, with a more meaningful recovery not anticipated until calendar year 2027," Chief Executive Officer Andrew Reding said.

On a continuing operations basis, Fletcher reported a net profit of NZ$45 million for the six months to December 31, its first since June 2023, helped by cost-control initiatives and market share gains.

       ($1 = 1.6540 New Zealand dollars)

 (Reporting by Nichiket Sunil and Anjali Singh in Bengaluru, Editing by Maju Samuel)

 ((anjali.singh2@thomsonreuters.com; Nichiket.Sunil@thomsonreuters.com))