Fletcher Building reports its profit rose 4 percent for the year ended June, dragged down by the high New Zealand dollar.
Sales dropped 1 percent to $8.4 billion, reflecting the high currency.
Chief executive Mark Adamson said the $339 million profit was a strong result, despite the currency impact, with operating earnings before one-offs up 10 percent.
He said the group was well positioned to meet pent-up demand in New Zealand, and he is hopeful that conditions will improve in Australia.
