Business · Companies · 2 hrs ago
Fletcher Building reports higher volumes, but residential business lags
Fletcher Building reported higher sales volumes in most core businesses in the first quarter of FY27 compared with the same period a year earlier.
Insulation, wallboard and local volumes all increased, with gains ranging from 7.7% to 18.2%.
Residential units taken to profit fell 38.6%, as the division faced difficult conditions, particularly in Auckland.
The company said some customers were using stock bought before earlier price increases, and its residential and development division contributed little to its half-year results.
Inflation and interest-rate uncertainty are clouding construction prospects, while cautious customers and subdued project pipelines make future activity hard to predict.
The residential business is expected to remain challenged, while Fletcher Building’s core building products businesses aim to improve performance and deliver value to shareholders.
Fletcher Building reported higher sales volumes in most business units in the first quarter of FY27 compared with the same period a year earlier.
Residential units taken to profit fell 38.6% year on year.
Comfortech glass wool sales rose 9.0%, while Fletcher Insulation volumes increased 13.6%.
Winstone Wallboards domestic board volumes rose 7.7%, and Di mond local volumes grew 18.2%.
The company said residential and development faced tough conditions, particularly in Auckland, amid cautious customers and subdued project pipelines.
- Who
- Fletcher Building.
- What
- It reported higher volumes in most business units, while residential units taken to profit declined.
- When
- First quarter of FY27, compared with the first quarter of FY26.
- Where
- Auckland was identified as a particularly difficult market for the residential and development division.
- Why
- The company cited tough conditions, cautious customers, subdued project pipelines and uncertainty around inflation and interest rates.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Reporting period
- Q1 FY27
- Residential units taken to profit
- Down 38.6% year on year
- Comfortech glass wool sales
- Up 9.0% year on year
- Fletcher Insulation sales volumes
- Up 13.6% year on year
- Winstone Wallboards domestic board volumes
- Up 7.7% year on year
- Di mond local volumes
- Up 18.2% year on year
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