Fletcher Building has reported an $80 million drop in half-year profits, and warns that its full year earnings will also be expected to take a hit.

The company was hit hard by significant costs coming out of the repairs to Auckland's International Convention Centre after a major fire damaged the building.

Fletcher Building CEO Ross Taylor says that Fletcher's full-year profits for 2023 will be affected by the floods in the North Island, despite a strong performance.

Ross Taylor says Fletcher Building will be looking to put several construction projects on hold in the coming months.

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