Fletcher Building Overcomes Legacy Challenges, CEO Optimistic on Future

At Fletcher Building Limited's (NZX: FBU) annual general meeting on October 23, new managing director Andrew Reding expressed optimism about the company’s position, stating it is in "far better shape" than anticipated. He noted that while the company’s core businesses continue to perform well, they have faced setbacks due to legacy issues, leading to an additional $180 million in provisions for legacy construction projects as of June 30. Reding emphasized that addressing these issues remains a priority, with improvements already underway to strengthen Fletcher Building’s operational resilience and streamline its growth path.

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