PHOTO: SUPPLIED – Construction giant Fletcher Building has halted the trading of its shares.
Construction giant Fletcher Building has halted the trading of its shares on the NZX and ASX as it recounts its losses in its building and interiors business.
A KPMG review of Fletcher’s finances in October forecasted a $160 million loss after the costs of two major projects, SkyCity’s New Zealand International Convention Centre (ICC), and the Christchurch justice and emergency services precinct, blew out.
Fletcher’s chairman Sir Ralph Norris told shareholders at the time that the cost included ongoing losses
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