New Zealand: Fletcher Building Materials has published a net profit of US$135m for the financial year ending in June 2026. This is up by 154% from a net loss of -US$249m in the previous period from June 2024 to June 2025. After last year’s loss, it announced a reset aimed at cutting costs, simplifying its business and reducing debt. It sold its construction division and used the proceeds of the sale to ‘strengthen’ its balance sheet. CEO Andrew Reding said the company was ‘significantly more resilient’ than it was 12 months ago.
In July 2026, the company received US$35m from the government to support its operations amid overseas competition that did not face the same CO₂ emissions charges. Reding said that, without the support, the plant would have likely had to close and move to an import-only model from 2030. Golden Bay Cement is New Zealand’s only domestic cement plant, meaning that its closing would expose the country to global supply disruptions and potential high costs from imports.