Fletcher Building will sit down with media today in the second attempt this week to reveal its financial situation.

A trading halt was placed last week last Thursday, which has since been extended until today.

It needed more time to negotiate with bankers over a likely breach of its loan conditions.

Auckland University's Professor Jilnaught Wong told Kate Hawkesby the people who sit on the Fletchers board are credible but have shown poor financial judgement.

"A board expertise requires both general knowledge and specific knowledge, and I am just questioning whether there is adequate specific knowledge sitting on the board to be asking the right sorts of questions."

Investors have still been holding a reasonable amount of faith in the construction company despite budget blowouts and poor financial judgements.

Wong says the last share price before Thursday's trading halt was $7.77, about 1.5 times the book value of their equity.

"Investors at that particular point in time, based on the information that they had at that particular point of time, still saw promise in Fletcher Building in the sense that they still saw that they would earn a return on capital in the future."

The extent of the construction firm's loss should be known at 10 this morning.

LISTEN TO JILNAUGHT WONG TALK WITH KATE HAWKESBY ABOVE