Fletcher Building Limited (ASX:FBU) has reiterated the impact that ongoing challenging trading conditions are having on its operations.
Speaking at the company's annual meeting chairman, Ralph Waters, confirmed the building and construction products provider does not expect a material improvement in its first half trading.
Mr Waters also says the company’s share price is disappointing, having this year fallen by more than 15 per cent.
Mr Waters is confident however in the longer term the company is well placed to grow earnings in all of its markets.
Fletcher said last month it expects a 10 per cent fall in its first half net earnings and a steady result for the full 2012 financial year.
In the 2011 financial year Fletcher Building posted a $225 million net profit.
