Ralph Norris to chair Fletcher Building

Ralph Norris to chair Fletcher Building
Ralph Norris to chair Fletcher Building

The former Commonwealth Bank of Australia boss Ralph Norris will be the next chairman of the New Zealand based building products group Fletcher Building.

He will take over from the long-serving Ralph Waters who will retire on 21 October following Fletcher's annual general meeting, bringing an end a 13-year involvement with the company.

Fletcher Building released its full-year results yesterday with its net profit for the 12 months to 30 June at NZ$339 million (A$308.49 million) up from NZ$326 million in the prior financial year.
 
The 2014 net profit was hit by a NZ$3 million one-time cost.

Fletcher Building chief executive Mark Adamson said the underlying result was strong, with double-digit earnings growth despite currency headwinds and mixed trading conditions in Australia.

Fletcher Building is the biggest company on the NZX 50 Index.

The construction and building products company is benefiting from rising construction activity especially rebuilding work in the earthquake struck, Canterbury.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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