The group's businesses exposed to the residential and commercial markets in New Zealand recorded lower earnings than for the corresponding period in the prior year, it said.
But infrastructure activity remained steady "and this has underpinned earnings in businesses exposed to this part of the market," the company said.
In Australia, a significant downturn in residential consents and continued weak approval levels in commercial construction have impacted the earnings performance of businesses in those sectors.
Fletcher Building's Australian subsidiary, Laminex, had been hit by its high exposure to the residential sector.
Conditions in the long steel industry remained difficult, with surplus capacity globally coupled with the high Australian dollar adversely impacting earnings from the export of long steel product into Australia.
Its Formica unit continued to see earnings growth in each of its three regions - North America, Europe and Asia.
The pace of reconstruction efforts in Canterbury after the earthquakes was expected to accelerate in the second half of the 2012 financial year, assuming a continuing reduction in seismic activity.
However, the region experienced a further magnitude 5.5 earthquake on October 9, which the Government believes could further delay rebuilding efforts.
The Treasury's expectations are that the rebuilding in Canterbury will not begin in earnest until the second half of the 2012 calendar year, Fletcher Building said.
"In New Zealand, no material improvement in trading conditions is expected in the first half of the 2012 financial year, and the timing of a sustained and meaningful recovery beyond that is uncertain," the company said.
"In Australia, there is a clear risk that residential and commercial construction activity will remain around the current low level for the balance of the 2012 financial year," it said.
Markets in North America and Europe are expected to remain flat while Asia is expected to continue growth.
