Podcasts Other The Mike Hosking Breakfast Andrew Kelleher: JMI Wealth Director on the hit taken by Fletcher Building over leaky pipes allegations

Andrew Kelleher: JMI Wealth Director on the hit taken by Fletcher Building over leaky pipes allegations

Published: Oct. 16, 2023, 7:01 p.m.

One of our largest companies is taking a major hit from allegations of a manufacturing fault in Australia.\xa0

Fletcher Building is rejecting an Australian building company's claim that it's Iplex pipes leak, putting the problems down to incorrect installation practices.\xa0

But analysts expect the dispute to ultimately end up in court.\xa0

JMI Wealth Director Andrew Kelleher told Mike Hosking that in the meantime, Fletcher shares are taking a hit, down 11.6% yesterday.\xa0

He says that's historically a very large single-day fall in a company, but some had feared an even larger one.\xa0

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