A sharemarket analyst says more rationalisation by Fletcher Building cannot be ruled out after the company sold two businesses just days after announcing it was shutting a factory in Spain.
The company sold its metals distribution businesses for $70 million on Monday.
Austral Wright Metals and Mico Metals were sold to AW Distribution and Wakefield Metal, respectively.
The businesses were acquired by Fletcher Building as part of the Crane Group purchase in 2011.
Last week, Fletcher Building said it would close one of its two laminate making plants in Spain, due to weak residential demand in the struggling country.
Craigs Investment Partners head of private wealth research Mark Lister says both moves are part of a rationalisation and the company may look at other non-core or poorly performing businesses.
He says with a well-spread portfolio of worldwide assets there will always be the possibility of rationalisation.
"They'll always be looking as whether they are doing things as sharply and efficiently as they could."
Fletcher shares closed more than 3% higher at $6.06 on Monday.