Fletcher Building + Interiors

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Fletcher Building + Interiors

Fletcher Building + Interiors
SpellingFletcher Building + Interiors
Pronunciation[Fletcher Building + Interiors]

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He took the helm in November 2017 and revealed the following February that the company's high-rise construction unit, Building + Interiors, had lost almost $1 billion over an 18-month period.

Fletcher Building announces a $486 million increase in the projected losses for Fletchers' troubled Building and Interiors (B&I) division on 16 major construction projects.

The chief cause was a $660m loss in its building and interiors division, but chief executive Ross Taylor said the company was well on the way to finishing those projects off, after which it plans to exit the vertical construction market.

"The Construction division stabilised, which led to a return to profitability, and we are on track to complete the remaining legacy B+I projects within the provisions we set in February 2018," Mr Taylor said.

At the time Taylor said: “Our absolute focus is finishing our remaining B+I [building and interiors division] projects within these provisions and to a high quality for our customers. To achieve this, we are refocussing the entire B+I business on project delivery only, and ceasing all bidding on vertical construction projects in New Zealand. This will allow us to direct all resources in B+I to the completion of the current book.

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