Fletcher Building calls for halt to stock exchange trading

Fletcher Building
Fletcher Building. Photo credit: Newshub.

Construction giant Fletcher Building has requested a trading halt on its shares, as it reviews the performance of its building and interiors business unit.

In a statement to the NZ stock exchanges, Fletcher said accounting firm KPMG was reviewing the unit's two largest projects and their impact on projections for the 2018 financial year.

The trade halt is expected to last until Wednesday, when the company will update shareholders on expected profit for the 12 months.

"The company is taking the necessary time to carefully consider this matter," it told the exchanges.

Fletcher Building is also expected to name a new chief executive on Wednesday.