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Fletcher Building dispute likely to end up in court

Author
Newstalk ZB,
Publish Date
Tue, 17 Oct 2023, 8:00AM
Photo / Getty | File
Photo / Getty | File

Fletcher Building dispute likely to end up in court

Author
Newstalk ZB,
Publish Date
Tue, 17 Oct 2023, 8:00AM

One of our largest companies is taking a major hit from allegations of a manufacturing fault in Australia. 

Fletcher Building is rejecting an Australian building company's claim that it's Iplex pipes leak, putting the problems down to incorrect installation practices. 

But analysts expect the dispute to ultimately end up in court. 

JMI Wealth Director Andrew Kelleher told Mike Hosking that in the meantime, Fletcher shares are taking a hit, down 11.6% yesterday. 

He says that's historically a very large single-day fall in a company, but some had feared an even larger one. 

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