KEY POINTS:
How has the credit crunch changed your world?
It's changed a lot. We are much more conservative with our balance sheet. We think financial strength is the most important thing these financial times and we have entered 2009 with a very strong balance sheet.
How serious is the current downturn in a historical context?
The year 2008 was the biggest fall in equities markets in history. The Standard & Poor's 200 started in 1825 and 2008 was the worst year in its history.
And the other interesting thing about this is that in New Zealand in November 2008, house consents were the lowest since records started in 1972 so 2009 is going to be a very tough year.
What helps you put it in perspective and stay positive?
Fletcher Building is one of those iconic companies and 2008 was a record year in terms of operating profit.
Financially, we are strong and we have a fantastic management team and I think we are very well prepared to weather a global recession.
