Shares in Fletcher Building have fallen almost 3% after the building products and construction firm warned it will take another financial hit in its struggling laminex business.
The company expects to book a one-off restructuring charge of $40 - $50 million in the year to June as it tries to improve the profitability of its operation.
The Laminex Group has struggled due to falling demand and a high currency.
Fletcher Building took a $21 million hit in restructuring costs in the half year accounts.
The building products and construction firm still expects to make a full year profit of $310 - $340 million before one-off charges, after making $359 million the year before.
The company says there are signs of improved activity in the New Zealand building market, though it's coming off a low base, but the Australian construction sector remains weak while the US and Europe is mixed.