August 20, 2019 / 8:48 PM / 3 months ago

NZ's Fletcher Building reports annual profit on stronger local demand

Aug 21 (Reuters) - New Zealand’s home builder Fletcher Building Ltd on Wednesday posted an annual net profit compared to a loss in the previous year, benefiting from higher demand for building products and distribution in its local market.

Net profit after tax for the year came in at NZ$164 million ($105.21 million), compared to a loss of NZ$190 million a year earlier.

$1 = 1.5588 New Zealand dollars Reporting by Shreya Mariam Job in Bengaluru; Editing by Bernard Orr

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