Ihumātao protestors have been allowed into Fletcher’s shareholders meeting as the chair and CEO of the company address shareholders.
The company released its 2019 results to shareholders at Eden Park this morning.
It’s faced a number of issues over the past couple of years, including financial strife, the SkyCity convention centre fire and an occupation on land it owns at Ihumātao.
As shareholders arrived at the meeting, a few Ihumātao protestors stood quietly at the entrance. About halfway through chairman Bruce Hassell’s address, they were allowed into the meeting and have sat quietly as he talked about Ihumātao and the company’s performance.
SkyCity and Fletcher’s are feeling the pain and the impact is likely to be felt wider than Auckland.
Mr Hassell defended the company’s handling of Ihumātao during his presentation, saying it had acted ethically and sensibly at all times and were working with the Government on a solution.
CEO Ross Taylor says after the “distractions” over the past two to three years, the focus is now on getting the Australian and New Zealand residential businesses back on track.
In August, Fletcher Building posted a $164 million profit for the year ended June, with revenue down to $9.3 million.
The expected earnings before interest and taxes for the 2020 financial year is between $515 million to $565 million, with the 2019 financial year being $549 million.
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