Fletcher Building has told investors that profit margins and revenues have improved in New Zealand, while margins in Australia have fluctuated following a period of steady improvement.
The building products and construction firm is holding an investor day in Brisbane to update Australian investors about its progress in turning around underperforming businesses.
The company said it would continue to focus on growth and fixing troubled businesses to lift earnings.
Fletcher's chief operating officer for housing Steve Evans said land development would be an important contributor to growth, giving the company an opportunity to capture a return on development and building construction.
He said the company would focus on its large scale development in Auckland, while working in partnership with the Government to develop property in Canterbury.