Fletcher Building has announced today it plans to get back into bidding for commercial projects.
The company's chief executive Ross Taylor says market conditions have improved.
Just 18 months ago the company’s building and interior division suffered losses of up to $1 billion and it announced it would focus only on existing projects.
The company has started to turn its financial position around and will return some of the profit to shareholders, through a $300 million buyback offer.
The company will return some of the profit to shareholders, through a $300 million buyback offer.
In a presentation in Australia, Mr Taylor said there had been strong industry and government alignment through the construction accord and the market outlook remained strong.
The news in Australia is not so good, with tough market conditions starting to bite, largely due to a sharp decline in the residential market and some poor business practices in some areas.
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