The boss of Fletcher Building says the company's in a much better position now than it was this time last year.

It's reported a full year net profit of $228 million, up from a net loss of $419 million last year.

The company has sold several business arms - including its Fletcher Construction division to French multinational Vinci.

CEO Andrew Reding says this is a very good start for the business - but the journey's not over just yet.

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