Podcast appearances and mentions of Fletcher Building

A housing development for you. A housing development that once again shows how reality beats theory. Housing is a New Zealand obsession. We love housing and we long to own housing. It encroaches on immigration and whether too many people lead to higher prices. It encroaches on politics and the expectation as to what Governments do about housing and the prices of said housing. It involves social housing, emergency housing, KiwiSaver, incomes, the Reserve Bank, deposits and LVR's. It is all encompassing. In theory, if you could make building cheaper, we would be keen, wouldn't we? Yes, I hear you say. So what happened to Clever Core? Clever Core is Fletcher's prefab house building factory. The factory is closing. Why, I hear you ask? Because, to quote Fletchers, "it had not worked". Demand was the issue because there wasn't enough of it. If you had conducted a survey and asked, "could prefab housing help the so-called housing crisis in this country?" you would have got an overwhelming yes. Yet, did we follow our enthusiasm up with sales? Obviously not. Resistance from the building industry is another phrase Fletchers used. You see, as I have said many times, we are happy to moan about the cost of building, the cost of GIB, how cheap it is in Australia and how much a deck out back for the BBQ would be. But prefab? Oh, no thank you. Essentially, we are hosing snobs. It's sort of like with coffee - we moan about $6 for a flat white but pay it anyway. Not that there is anything wrong with that. If you want to pay anywhere between $10,000-35,000 per square metre that's great. But what Clever Core reveals is we don't actually want to save. Often, we don't actually want solutions. What we want is what we have, and like, except at a better price. We want what we can't have. What we can have, we don't want. Ask Fletchers. See omnystudio.com/listener for privacy information.

Fletcher announced a $134 million net loss after tax for the December 31, 2024 half-year, up on the previous $120m net loss. Losses climbed partly due to the disastrous Perth leaky pipe problems after Fletcher's Iplex finalised and signed a $170m provision in this 2025 financial year in what it called the Western Australian plumbing industry response. Fletcher Building CEO Andrew Reding says many businesses are seeing early signs of recovery - but he's still apprehensive about the company's economic fate. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Fletcher announced a $134 million net loss after tax for the December 31, 2024 half-year, up on the previous $120m net loss. Losses climbed partly due to the disastrous Perth leaky pipe problems after Fletcher's Iplex finalised and signed a $170m provision in this 2025 financial year in what it called the Western Australian plumbing industry response. Fletcher Building CEO Andrew Reding says many businesses are seeing early signs of recovery - but he's still apprehensive about the company's economic fate. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Sky City says a February opening date for its International Convention Centre is prudent. The Centre was initially planned to open in 2020, but a major roof fire in 2019 - followed by the Covid-19 pandemic - set the project back substantially. Fletcher Building will now hand it over in June. Chief Operating Officer Callum Mallett says the next stage of commissioning and operational work will take several months. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Fletcher Building's chief executive and board faced up to some very disappointed shareholders at today's annual general meeting. Company chief executive Andrew Reding revealed margins were under pressure - with revenue down 12 percent in September versus 7 percent down in July and August, compared to the year earlier. NZ Shareholders Association CEO Oliver Mander was at the meeting, and he noted the company seemed 'humbled'. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Fletcher Building's chief executive and board faced up to some very disappointed shareholders at today's annual general meeting. Company chief executive Andrew Reding revealed margins were under pressure - with revenue down 12 percent in September versus 7 percent down in July and August, compared to the year earlier. NZ Shareholders Association CEO Oliver Mander was at the meeting, and he noted the company seemed 'humbled'. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The Australian market remained flat today, with the ASX200 barely moving despite earlier declines. Investors were cautious due to escalating Middle East tensions, which drove mixed performances across sectors. Energy stocks, typically buoyed by rising oil prices, saw sluggish performance due to weak coal stocks like New Hope, which also traded ex-dividend. Real estate stocks outshone others, while financials and materials dipped. A major highlight was the $7.5 billion in dividend payouts from BHP and Woodside, contributing to one of the year's biggest days for dividends. Despite market volatility, companies like Fletcher Building and Sigma Healthcare saw strong gains due to positive broker outlooks and merger news.   The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.

Fletcher Building is looking to put its problems in the past, as it aims to raise an extra $700 million. The construction giant plans to issue $292 million in new shares for investors, to cut into its $1.8 billion debt. Fletcher Building has announced a group net loss of $227 million last month. Harbour Asset Management's Shane Solly says this is part of the company's bid to reduce additional losses.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Fletcher Building is looking to put its problems in the past, as it aims to raise an extra $700 million. The construction giant plans to issue $292 million in new shares for investors, to cut into its $1.8 billion debt. Fletcher Building has announced a group net loss of $227 million last month. Harbour Asset Management's Shane Solly says this is part of the company's bid to reduce additional losses.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Gallagher: https://am.gallagher.com/en-US I'm pleased to welcome Gallagher Animal Management Chief Executive Lisbeth Jacobs onto the show today. There is nothing like the battle-tested point of view from a company that has been an innovator and market leader for a long time. In Gallagher's case, it's in technology for animal management. A quick description from their website: Founded in 1938, Gallagher is now known and respected in over 100 countries as a family-owned business built on customer-led innovation. From the electric fence to the cloud, Gallagher's connected and customisable ecosystem of solutions empower our customers to work responsibly, productively, and profitably to protect what matters most.So their customers are ranchers and livestock raisers, particularly those who raise livestock on pastures. And I love the juxtaposition of this pastoral customer grazing livestock like has been done for thousands of years, using the latest technology like virtual fencing which they sell under the brand e-shepherd. Lisbeth and I will talk about e-shepherd specifically, as well as Farmote, which is a joint venture between Gallagher and Barenburg to commercialize technology for automated pasture monitoring. Lisbeth Jacobs joined Gallagher as Chief Executive - Animal Management in April 2021 and thrives on providing strategic leadership across the global footprint of the Animal Management operations.  Prior to this Lisbeth held senior leadership roles at the leading edge of applied innovation and sustainability with Fletcher Building, Uniservices, The Icehouse, and global steelcord & steelwire company Bekaert where she worked and lived across Europe, China, the Middle East, and North America.   Lisbeth holds a PhD of Engineering from the University of Auckland. And her background in both business leadership and engineering both shine through in today's episode.

A grim warning from New Zealand's largest construction company. Fletcher Building is reporting a group net-loss-after-tax of $227 million dollars, following a $235 million profit last year. Its residential building arm has been doing well, but it's had losses from its civil business Higgins and Australian plumbing company, Tradelink. Milford Asset Management's Sam Trethewey unpacks a tough financial year for the construction sector.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

A grim warning from New Zealand's largest construction company. Fletcher Building is reporting a group net-loss-after-tax of $227 million dollars, following a $235 million profit last year. Its residential building arm has been doing well, but it's had losses from its civil business Higgins and Australian plumbing company, Tradelink. Milford Asset Management's Sam Trethewey unpacks a tough financial year for the construction sector.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

Last week was a very good one for local investors. The NZX 50 enjoyed its seventh positive week out of the last eight, rising 4.0%, the strongest weekly gain in more than four years. The index is up 10.4% from its recent lows, and at its highest level since January 2022. In the days ahead, markets will be kept busy with a busy week of corporate results, as the likes of a2 Milk, Freightways, Fletcher Building, Auckland Airport and Port of Tauranga all report earnings.

Mark Cairns, chair of Freightways and long-time former Chief Executive of Port of Tauranga, has pulled out of the running to be Fletcher Building chair. 

Fletcher Building's shares have bounced back up after the business completed and handed over part of their NZ International Convention Centre project. The project is back in SkyCity's hands - with the project on track to reopen by the end of the year. Harbour Asset Management spokesperson Shane Solly explains further. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Poor trading conditions, intense price competition and lower building product sales have prompted Fletcher Building to downgrade its profit forecast. The forecast has been downgraded $640 million to $540 million - move that caused stock to sink 15 percent. Milford Asset Management's Mark Riggall explains what's causing Fletcher Building's economic woes. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Union workers at Fletcher subsidiary EasySteel have blamed the company's recent mismanagement for a looming restructure. Fletcher has cited market conditions for this restructure, and jobs are on the chopping block. First Union spokesperson Justin Wallace says 50 to 60 jobs could be scrapped. "The interesting part is- this is not only being targeted at union members, it's also being targeted at management, marketing and other areas that are outside the union coverage."  LISTEN ABOVE  See omnystudio.com/listener for privacy information.

The leadership shake-up at Fletcher Building continues with CFO Bevan McKenzie announcing he will quit later this year.   Earlier this year, Fletcher Building posted a 26.7% drop in earnings and an after-tax loss of $120 million.  Simplicity Founder and Fletcher shareholder Sam Stubbs tells Heather du Plessis-Allan the company has been poorly governed but that it is hard to know where exactly responsibility lies.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Shareholders Association says Fletcher Building's board is making the right moves in refreshing the company's leadership but it wants more transparency in the process. Anan Zaki has the business news.

Rebecca looks at South Korea's low birthrate problem and why it is becoming a problem for business. Some companies are offering financial incentives to employees who have children. And fast food company Wendy's new plan for dynamic pricing has sparked debate about price surging. Finally, a look at how the changes at Fletcher Building are playing out behind the scenes. Rebecca Stevenson is a senior journalist at BusinessDesk.

One business expert says a change in leadership isn't enough to save Fletcher Building. Yesterday, Chief Executive Ross Taylor and Chair Bruce Hassall both announced their resignation following some lower-than-anticipated half-year results. Auckland University economics professor Robert MacCulloch says the entire company should be broken up altogether. "The company should be nationalised, the Government should buy the company and break it up into little bits and sell those bits beck to private operators." LISTEN ABOVE    See omnystudio.com/listener for privacy information.

Fletcher Building's share price has plummeted after it delivered a disappointing 120-million-dollar-half-year loss, with a mixed reaction from market analysts. The result has seen the company's chief executive and chair resign, with some analysts saying the entire board needs to consider their positions. Nona Pelletier reports. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6346847378112

There's a view that the entire Fletcher Building board should go as the company's Chief Executive and Chair call it quits.  The company's half-year financial result was announced alongside the two resignations, a first-half loss of $120-million.  Shares have plummeted.  Simplicity Founder Sam Stubbs told Mike Hosking that he believes the board would struggle to tell shareholders why they should stay.  He claims the company's been a 'trainwreck' for some time now.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Fletcher Building has had an eventful few days, culminating in the loss of chief executive Ross Taylor and chair Bruce Hassall. The company has also reported a $120 million half-year loss after tax. Milford Asset Management's Jeremy Hutton warns Fletcher may need more than a change in leadership to win back investors. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Resignations by Fletcher Construction's two top players can be traced back to a single project. The company has reported a $120 million half-year loss after tax. Chief Executive Ross Taylor and Chair Bruce Hassall have announced they'll both leave this year. Taylor says remediation for the SkyCity fire in 2019 was the most complicated thing he's seen in 40 years in the industry. "We basically progressively only understood what we were up against- and then we had to re-forecast. In the end, I think the team's done a great job to keep it on track, program wise, and we really couldn't forecast until we worked out how to do this stuff." LISTEN ABOVESee omnystudio.com/listener for privacy information.

The country's biggest construction company, Fletcher Building, has posted a loss of $120 million for the six months to December - much worse that predicted. 

The Shareholders Association says Fletcher Building's board should break up the company as investors brace for bad news this morning. Fletcher Building shares were placed in a trading halt on Monday February 12. The company surprised the market with cost increases to cover likely losses on a couple of big projects, the NZ International Convention Centre and Wellington Airport, now expected to be around $180million. Chief executive of the Shareholders Association, Oliver Mander, spoke to Corin Dann.

Fletcher Building's six month result is out. Business Editor Gyles Beckford spoke to Corin Dann.

Top stories for Wednesday 14 February 2024 Hawke's Bay and Tai Rawhiti residents have woken to a beautiful morning a year on from the carnage of Cyclone Gabrielle - we'll have extensive coverage this morning. The Shareholders Association is calling on Fletcher Building's board to consider breaking-up the company In Australia, half a million people are without power in Victoria after bushfires and heavy storms wreaked havoc The U.S., Qatar and Egypt meet today with Israeli officials to try and organise a ceasefire in Gaza

Fletcher Building's chief executive and board chair are stepping down amid a disappointing first half result.  Gyles Beckford has the business news.

Fletcher Building's chief executive and chairman are standing down after a worse than expected half year result.  The country's largest construction company has announced a $120-million net loss after tax in its interim result.  Ross Taylor and Bruce Hassall have confirmed they'll leave the company later this year.  Fletcher had been in a trading halt since Monday afternoon, pending the results.  Mark Lister from Craigs Investment Partners told Mike Hosking that unfortunately, this isn't the first time Fletcher has been in trouble.  LISTEN ABOVE   See omnystudio.com/listener for privacy information.

It looks almost certain that the CEO of Fletcher Building is gone. The company put the shares in a trading halt yesterday, and announced that Ross Taylor would be reconsidering his position. Which says to me- he's resigning tomorrow. I can't see a way for him to come out and say he's not resigning after that statement's been made. And if he does go, which seems more likely than not, I doubt very much he'll be alone. I suspect there will be other members of the executive - and maybe even the board - walking out that door with him. And I don't think anyone's gonna cry any tears over this. Fletcher Building is not a business that you can argue is doing right by its shareholders. There have been calls for the board and the CEO to resign for at least two years, because the company just keeps lurching from one problem to the other. There was the high rise disaster, then the convention centre disaster, then the GIB board disaster, then the pipes problem over in Australia, and then just last week- the $180 million cost blow out on the Convention Centre and the Wellington parking building. As Sam Stubbs from Simplicity pointed out when he was on our show calling for the resignations last week- in the last two years, the NZX has gone up 7.5 percent and Fletcher Building's shares have gone down 16.5 percent. That's not average performance, that's a very bad performance. Meanwhile, the directors asked for a 25 percent pay increase last year, until they got told that was a bad idea and withdrew it. And Taylor, if you listen to the analysts, gets paid about three times what other CEOs of similar sized listed companies get paid. There are significant shareholders who are pretty cross, and I don't reckon they'll settle for just Ross Taylor's scalp tomorrow. I would expect not just one resignation. LISTEN ABOVESee omnystudio.com/listener for privacy information.

There's a push for a shake up of the Fletcher Building board. The construction company is in a trading halt ahead of the release of its half-year results tomorrow. CEO Ross Taylor is also 'considering his position'. Shareholders Association Chief Executive Oliver Mander says whatever woes the company has, they're down to more than just Taylor. "We do think this is a wider conversation than the CEO, and certainly we've been critical of the board in the past in terms of how it has approached certain issues."  LISTEN ABOVESee omnystudio.com/listener for privacy information.

There are growing calls for Fletcher Building to make some leadership changes ahead of tomorrow's half-year result. The company has been placed in a trading halt, and it's been revealed Chief Executive Ross Taylor is 'considering his position'. BusinessDesk managing editor Pattrick Smellie says it's a complex situation- and it's unclear if removing Taylor will solve everything. LISTEN ABOVE See omnystudio.com/listener for privacy information.

The Shareholders Association says Fletcher Building has a credibility problem, which won't be solved with the resignation of its chief executive.  Gyles Beckford has the business news.

In this episode, we dive deep into how Fletcher Building, one of New Zealand's largest employers, has created a significant shift in safety culture and outcomes. Anthony Mitchell, an EHS Manager from Fletcher Building, and Heidi Lance from Real Learning share the story of how their award-winning Safety Leadership program dramatically shifted the belief that all accidents are preventable. Two key aspects we dive into are storytelling and leader-led learning. Host: Michelle Ockers Transcript and related resources:  https://learninguncut.global/podcast/140/ Podcast information and more episodes: https://learninguncut.global/podcast/

Fletcher Building can expect a significant financial hit, after revealing they put another $180 million aside for repairs. Costs have blown out on two big projects- Auckland's International Convention Centre and the Wellington International Airport Car Park. Milford Asset Management's Jeremy Hutton says this cost blowout is putting a strain on Fletcher's balance. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Simplicity are calling for Fletcher Building's board and management to be scrutinised further. Fletcher's stock has dropped following a multi-million dollar cost blowout on two big projects in Auckland and Wellington. Managing director Sam Stubbs says they called for the chair's resignation two years ago- and action hasn't been taken. "In those two years, the directors paid themselves $4 million in fees- and then they had the absolute cheek last year to ask for a 25 percent pay increase, which they were ultimately talked down from." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Fletcher Building has delivered grim news of a $180 million dollar hit to accounts on two big projects. Costs for Auckland's International Convention Centre are up another $165 million, and a Wellington car park's tally has risen $15 million. The company's half-year results are due out next Wednesday. Jarden's Grant Swanepoel says this is the fourth concerning financial 'surprise' from Fletcher in the last 13 months. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The country's biggest construction firm is setting aside $180 million for likely losses on two big projects. Fletcher Building has put aside $165 million for further costs in the rebuild of the International Convention Centre in Auckland, and $15 million for a carparking building at Wellington airport. Gyles Beckford has the business news.  

All eyes were on Fletcher Building and how shareholders would react at their AGM. Among the issues it's dealt with recently include the Iplex pipes, directors' fees and the poor annual results. Business commentator Rod Oram joined Jack Tame. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Fletcher has its AGM next Friday, but it's expecting a tough time from the shareholders. It's expected the Iplex pipes drama will be a hot topic, as well as its persistently poor performance, and a number of shareholders being told to vote against directors' remuneration. Business commentator Rod Oram joined Jason Pine. LISTEN ABOVESee omnystudio.com/listener for privacy information.

One of our largest companies is taking a major hit from allegations of a manufacturing fault in Australia.  Fletcher Building is rejecting an Australian building company's claim that it's Iplex pipes leak, putting the problems down to incorrect installation practices.  But analysts expect the dispute to ultimately end up in court.  JMI Wealth Director Andrew Kelleher told Mike Hosking that in the meantime, Fletcher shares are taking a hit, down 11.6% yesterday.  He says that's historically a very large single-day fall in a company, but some had feared an even larger one.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Trading in Fletcher Building resumes this morning after the Kiwi construction giant pushed back on a Perth company's claims about leaks in its Iplex pipes.  JMI Wealth Director Andrew Kelleher told Mike Hosking that Fletcher is front-footing the allegations, claiming other companies haven't experienced similar issues and it was due to poor installation.  He says the company's response should be successful in mitigating the degree to which the market will react today, when trading resumes.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

News from the business sector, including a market report. [embed] https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6338818517112

The board of Fletcher Building has withdrawn a resolution asking for a pay increase in the face of shareholder pressure.  Kim Moodie has the business news.

Fletcher Building has had some headwinds of late but CEO Ross Taylor assures things are in order. Hear first-hand what risks lie ahead for the company, including finishing the troubled Auckland Convention Centre project.  Ross is candid about Fletcher's low carbon housing pilot, standardised (prefabricated) homes making up a third of its production—and rising, plus why the lower dividend payout, and what keeps him awake at night?  For more or to watch on youtube —check out http://linktr.ee/sharedlunch Brought to you by Sharesies, with BusinessDesk. Appearance on Shared Lunch is not an endorsement by Sharesies of the views of the presenters, guests, or the entities they represent. Their views are their own. Shared Lunch is not financial advice. We recommend talking to a licensed financial adviser. You should review relevant product disclosure documents before deciding to invest. Investing involves risk. You might lose the money you start with. Content is current at the time.See omnystudio.com/listener for privacy information.

Fletcher Building's full year profit has been hit by ongoing costs associated the International Convention Centre and Hobson Street Hotel project in Auckland. Gyles Beckford has the business news.

Fletcher Building has cut its earnings guidance because of a slowing economy, a fall in house building, and wet weather. Kim Moodie has the business news.

Text Hawk to 66866 to become part of "Mindful Monday." Join 10's of thousands of your fellow learning leaders and receive a carefully curated email from me each Monday morning to help you start your week off right... Full show notes at www.LearningLeader.com Twitter/IG: @RyanHawk12   https://twitter.com/RyanHawk12 Dr. Angus Fletcher has dual degrees in neuroscience (BS, University of Michigan) and literature (Ph.D., Yale). His research employs a mix of laboratory experiment, literary history, and rhetorical theory to explore the psychological effects—cognitive, behavioral, therapeutic—of different narrative technologies. He's the best-selling author of multiple books including Wonderworks: The 25 Most Powerful Inventions in the History of Literature, and Storythinking: The New Science of Narrative Intelligence. "The story you tell yourself needs to be the true story of yourself." How Angus tells his story: Build trust Listen Demonstrate courage - Angus told a group of special forces operators one of the most embarrassing stories of his life. After that, he said, "I'm not scared of anything." You must be genuinely humble to learn from your mistakes. "Real leaders activate the leader within you." Being a leader is all about contemplating fear. Stepping up when adversity strikes is why we exist as leaders. It's easy to lead when everything is going well. We want to be known as the leader who is there when it's hard. Dr. Fletcher's ultimate goal of using the power of story to bring us closer to self-actualization. Seems like that's a good first step to being a great leader. Confidence is earned by creating evidence for yourself that you can do hard things. Angus did this when he shared his story of not making it through Marine Corps boot camp. Angus's vulnerability earned trust with the military leaders. “For the longer we suspend our judgments, the more accurate our subsequent verdicts become. This valuable fact has been uncovered by researchers who've spent decades probing the mechanics of better decision-making, only to discover that the key is simply more time and more information. Which is to say: reserving our judgment until the last possible moment.” Unlike a computer, the brain wasn't particularly data-driven. Or particularly logical. Instead, it was emotional. And creative. And powered by story. “There are a number of judgments that we can suspend permanently, including most of our judgments about other people. Our brain is constantly making such judgments. It looks at strangers on the street—and judges them. It looks at celebrities in magazines—and judges them. It looks at family members and colleagues and friends in homes and offices and restaurants—and judges them. These judgments feel instantly good to our neurons; they deliver pleasant microdoses of emotional superiority. But in the long run, they make us anxious, incurious, and less happy, so we can improve our long-term mental well-being if we suspend them.” Apply to be part of my Leadership Circle 02:12 - Highlights of Leadership Training04:24 - How to Prevent Failure09:14 - What is a Story Scientist? 12:57 - Is Story Science Therapy? 14:22 - Tell Your Story 18:56 - Vulnerability is the Most Powerful Thing You Can Do 22:00 - Can You Go Too Far With Being Vulnerable? 25:19 - How to Be Vulnerable 32:42 - Real Leaders Activate the Leader In You 36:10 - Where Does Your Sense of Confidence Come From? 40:50 - Punch Through Your Own Fear 43:00 - Be Open About What Could Go Wrong 44:47 - Questions to Ask During the Interview Process 48:33 - Responding to Adversity IS Leadership 51:45 - How to Be Excellent at Speaking 56:27 - Advice For Younger Leaders