Fletcher Building Industries Limited
Fletcher Building Industries Limited Analysis
Overview
The company was listed under the name Fletcher Building Finance Ltd ("FBF") on 20 December 2002.
Fletcher Building Finance Ltd is a wholly owned subsidiary of Fletcher Building Ltd, and is the issuer of capital notes which are guaranteed by Fletcher Building on an unsecured subordinated basis.
On 27 August 2010 it was announced that the company will no longer lend to companies within the Fletcher Building group. FBF is regarded as a non-bank deposit taker by the Reserve Bank of New Zealand. As such, it is subject to the ongoing requirements of The Reserve Bank of New Zealand Act 1989. Recent amendments to the Act mean that FBF is no longer a preferred funding vehicle for the Fletcher Building group.
With effect from 27 August 2010 the company will become a holding company, and will purchase 20% of the shares in Fletcher Building Holdings Limited ("FBHL"). FBHL is a corporate holding company and currently holds most of the shares in Fletcher Building's New Zealand subsidiaries.
On 01 October 2010 the company changed its name to Fletcher Building Industries Limited ("FBI"), to reflect that it is no longer a funder or lender to the Fletcher Building group, but is instead an investor in Fletcher Building's New Zealand assets.
On 28 March 2011 Fletcher Building Industries ("FBI") and Fletcher Building Ltd ("FBU") consolidated their capital notes programmes and FBU's obligations were transferred to FBI effective from 28 March 2011.
Performance
The following information was extracted from Fletcher Building Industries Limited's Full Year Results, released on 19 August 2026:
Financial results Year ended 30 June 2026
Net profit after tax $33.6 million
Net assets $687.5 million
The Company reported a net profit of $33.6 million for the year ended 30 June 2026, compared with a net loss of $6.7 million in the prior year. The improvement primarily reflects a share of higher earnings from its associate. The prior-year loss reflected underperformance across the Fletcher Building Group’s New Zealand operations and the Company’s share of $222 million of one-off costs arising from the Group’s operational and strategic review, principally restructuring costs and non-cash impairments. The Company holds a 20 per cent interest in Fletcher Building Holdings New Zealand Limited, which owns the Fletcher Building Group’s New Zealand operating subsidiaries, and accounts for the investment using the equity method.
The financial performance of the Company should be considered in conjunction with the financial statements of the Fletcher Building Group, including the Group’s assessment of the preparation of the financial statements as a going concern.
Disclaimer: This section is provided as general information only. It is not intended as a substitute for legal or professional advice to company directors and officers or investors. NZX Limited disclaims any liability arising from the use of this information.
About Company
Board & Leadership
| Peter Crowley | Chair |
|---|---|
| James Miller | Deputy Chairman |
| Andrew Reding | Chief Executive Officer and Managing Director |
| Will Wright | Chief Financial Officer |
| Jacqui Coombes | Independent Director |
| Sandra Dodds | Independent Director |
| Tony Dragicevich | Independent Director |
| Cathy Quinn | Independent Director |
| Haydn Wong | Company Secretary |
Company Summary
| First Listed | 20th Dec 2002 |
|---|---|
| Primary Listing Venue | NZ |
| Solicitor | Bell Gully, Auckland |
| Auditor | Ernst & Young |
| Share Registry | Computershare Investor Services Limited |
| End of Financial Year | June |