Fletcher Building announces return to profit

Fletcher Building has announced a return to profit.

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It’s hoped the use of preconstructed panels will speed up the building process, delivering more affordable homes over time. Source: 1 NEWS

The construction giant's interim results revealed net earnings of $89 million dollars for the six months to December last year.

It follows the loss of more than $200 million for the first half of the 2018 financial year.

After the losses, Fletcher Building said it will now focus on its core operations of building products and distribution, and close out remaining projects belonging to its Building and Interiors arm.

It will divest its Formica and Roof Tile Group businesses.