Fletcher Building has met its guidance with a five per cent gain in full-year earnings before one-time charges, as strong growth in its biggest market of New Zealand offsets a weaker performance in Australia and the rest of the world.

Operating earnings excluding one-time items rose five per cent to $NZ653 million ($A585.94 million) in the year ended June 30. Net profit fell 20 per cent to $NZ270m after $NZ150m of one-time charges for plant closures and impairments. The company will pay a final dividend of 19 cents a share,…