Full Year 2023 Fletcher Building Ltd Earnings Call Transcript
Thank you for standing by, and welcome to the Fletcher Building FY '23 Full Year Results Call. (Operator Instructions) I would now like to hand the conference over to Mr. Ross Taylor, CEO. Please go ahead.
(foreign language). Good morning, everyone, and welcome to the presentation of our annual results for the 12 months ended 30 June 2023. Presenting with me today will be our CFO, Bevan McKenzie. The agenda for today is shown on Slide 3 of the pack. I'll provide an overview of the results. Bevan will provide a bit more detail on the financial performance, and then I'll sum up with how we're thinking about FY '24 and beyond. After this, we'll take any questions you may have.
Turning to Slide 4, and a summary of the full year results. Against the backdrop of a softening residential market and extreme wet weather events in New Zealand, we delivered a strong year across our businesses. EBIT increased year-on-year to $798 million, and margins were pleasing at 9.4%. The return on our funds was 17.1%, and our
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