Fletcher announces total losses of $660 million, chairman Ralph Norris resigns

 

PHOTO: Fletcher Building chairman Sir Ralph Norris will step down before its annual meeting this year. Picture / Jason Oxenham.

NZX-listed giant Fletcher Building has just announced $660 million total losses from its Buildings and Interiors division, the resignation of chairman Sir Ralph Norris and told shareholders they will get no dividends.

Further provisional losses of $486m have been announced from the Buildings and Interiors business, “leading to a total projected loss of $660m. Fletcher Building chairman announces he will step down no later than the 2018 annual shareholders meeting. No interim dividend payment for half-year 2018,” the company says.

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