The country`s biggest builder now expects full-year operating earnings of between NZ$610 million and NZ$650 million ($427.42 million and $455.45 million), versus a NZ$720 million to NZ$740 million ($504.5 million and $518.51 million) range forecast just a month ago.
"It`s the tightness of the market, the availability of subcontractors, and subcontractors obviously pricing to economics 101," he told investors on a conference call.
"Residential construction is obviously booming," Guy Davidson, director of construction specialists Cobalt Recruitment, told CNBC.
Wanted: Skilled construction workers in New Zealand Wednesday, 22 Mar 2017 | 11:53 PM ET | 01:32New Zealand needs workers by the thousand to keep its building boom going.
""Non-residential construction is absolutely booming as well? the sector is actually doing precisely double today than it was back in 2011.
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