The head of Fletcher Building says the company's taking a back seat in the ongoing Ihumātao dispute.

The company's today celebrating it's $164 million annual profit, a turn around from last year's $190 million loss.

But chief executive Ross Taylor told Heather du Plessis-Allan the company did a number of things well in the last financial year.

"We stabilised the construction business and returned it to profits, stayed within the [buildings and interiors] provisions which is important, set Australia up and really have a strong intervention there to get it growing again next year."

However, the biggest story around the company in recent weeks has been the controversy at Ihumātao, where Fletchers owns land and intended to build a housing development.

There has been backlash from local iwi, which has increased in recent weeks, prompting the Government to intervene and negotiate a halt to construction.

Taylor says they won't be commenting.

"We aren't commenting and we are actually deliberately staying out of the media so we give iwi the opportunity to talk about this calmly and work out where they want to go with this. We are waiting for some feedback from that process."