Fletcher Building reports HY25 loss amid market headwinds

Fletcher Building (NZX: FBU) announced a net loss after tax of $134 million for the first half of FY25, compared to a $120 million loss in the prior period. Revenue from continuing operations decreased by 7% to $3.583 billion from $3.860 billion in HY24. EBIT before significant items from continuing operations was $167 million, down $96 million year-over-year. The company highlighted a broad-based slowing of demand, intense competition, and persistent inflationary pressures as key challenges. Despite these headwinds, Fletcher Building emphasized its focus on operational efficiency, cost management, and resolving legacy construction issues. The company completed a $700 million capital raise, using the proceeds to reduce bank debt by $511 million and USPP by $169 million. Looking ahead, Fletcher Building expects macroeconomic pressures to persist.