Fletcher Building is reporting a group net-loss-after-tax of 227 million dollars, following a 235-million-dollar profit last year.
Its residential building arm's been doing well, but it's had losses from its civil business Higgins and Australian plumbing company, Tradelink.
Property Editor Anne Gibson says the company's warning the coming year will be challenging.
He says volumes in materials and distribution are expected to be down 10 to 15 percent next year.