20 Aug 2014

Fletcher Building profit up 4 percent

10:58 am on 20 August 2014

Fletcher Building reports its profit rose 4 percent for the year ended June, dragged down by the high New Zealand dollar.

Sales dropped 1 percent to $8.4 billion, reflecting the high currency.

Chief executive Mark Adamson said the $339 million profit was a strong result, despite the currency impact, with operating earnings before one-offs up 10 percent.

He said the group was well positioned to meet pent-up demand in New Zealand, and he is hopeful that conditions will improve in Australia.