Fletcher Building Limited (FRCEF) Q4 2026 Earnings Call Transcript

Good morning, and welcome to the presentation of our full year results for the 12 months ended 30th of June 2026. Setting the agenda for today, I'll cover off the 2026 financial year and the progress we've made against our strategy. I'll then talk to the divisions and our stakeholders. Will Wright, our Group CFO, will then take you through our financial results in more detail. And finally, I'll return for our outlook, after which we will take questions. Before we get into the detail, let me give you a quick overview of the year as I see it. The end of financial year '26 signifies the end of the first stage of our turnaround. The first stage was the initial hard work to turn around this group, and we have now completed that. We have progressed with the portfolio simplification. We have made ROIC a discipline in our business. We've put a focus on performance. And