Every organisation is subject to the influences of external conditions.
In 2008 those conditions were extreme as a protracted global economic
tsunami battered the business community. There was no disguising that
fact and Fletcher's performance was naturally effected. However, the
fundamentals of the company remained sound. So the 2008 annual report had
two main themes; ‘it’s really tough out there’, but ‘when this turns round
we’ll be in a position to take advantage of it'.