The 16 troubled construction projects that have left Fletcher Building with massive losses are a roll call of some of the highest profile developments in the country.
Fletcher Building said losses from its troubled Building and Interiors (B&I) division had increased by $486 million to a total expected loss of $660m.
It’s cost chairman Ralph Norris his job, and resulted in Fletchers cancelling its first half dividend and breaching its banking covenants.
The company has also stopped bidding for more of these giant construction projects, with chief executive Ross Taylor telling media: “The risk reward profile makes little sense.”
READ MORE:
* Fletchers’ losses increase, chairman Norris to depart
* ‘Argy-bargy’ with Fletchers possible
* Fletcher Building ‘suffered billions in wealth loss’
* Dispute over cause of delays to Christchurch’s Justice Precinct
* Incorrect steel delays Christchurch airport hotel opening
from Ellie NZ Rss http://www.stuff.co.nz/business/101433375/Roll-call-of-Fletcher-Buildings-massive-loss-making-construction-projects
from
https://ellieplume83.wordpress.com/2018/02/14/roll-call-of-fletcher-buildings-massive-loss-making-construction-projects/
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