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An announcement from Fletcher Building Limited ( (FRCEF) ) is now available.
Fletcher Building Limited has reached a settlement with the New Zealand Transport Agency and the Northern Express Group regarding claims related to delays in the Puhoi to Warkworth motorway project, caused by COVID-19 and adverse weather conditions. The settlement, although less than initially expected, resolves a longstanding issue and will result in a $16.4 million loss for FY25, while also bringing in $56 million in cash proceeds. The resolution marks progress in addressing legacy project issues, with additional insurance claims and minor matters still pending.
More about Fletcher Building Limited
Fletcher Building Limited is a prominent company in the construction industry, known for its involvement in large-scale infrastructure projects. The company focuses on delivering comprehensive construction services and has a significant market presence in New Zealand.
For an in-depth examination of FRCEF stock, go to TipRanks’ Overview page.