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.

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

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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

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

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

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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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