Fletcher Building expects $10m boost to FY26 earnings from SA property sale

The news: Fletcher Building has sold a South Australian industrial property, leased to its subsidiary Iplex Australia, to an investor for $20 million. The transaction is expected to finalise in June.

The context: Iplex Australia will lease the site for up to 12 months after transaction completion to facilitate the relocation of its operations.

Based on the purchase price, Fletcher Building expects the sale to contribute around $10 million to its FY26 EBIT, net of property rationalisation and restructuring costs.

What they said: “We are pleased to have made further progress in optimising the group’s property footprint and to have achieved an attractive sale price for this property,” Fletcher Building CEO Andrew Reding said.