The company might have begun in 1930 but the Fulton family still has strong ties to the Christchurch-based infrastructure and construction group Fulton Hogan.
However, a difficult year on the other side of the Tasman has seen the company’s first-half profit dropped by a third.
In an update to shareholders, the company reported a pre-tax profit of $70.6 million – a drop by a third. It blamed the decline on several legacy construction projects in Australia.
The company is also paring back its Fijian unit after losing its road maintenance contracts. As a result, Fulton Hogan is reassessing its long-term presence in the Pacific.
Jules Fulton and Bob Hogan started the business in 1930 with a contract to fix potholes - and today the business turns over about $3 billion and employs more than 5500 workers.
Family members Bob and Jules Fulton Jr are still directors of the company. Bob has over 30 years involvement in the engineering and construction industries, including more than 20 years of senior executive roles at Fulton Hogan. He was appointed to the board in 2008 as representative of the Fulton cornerstone shareholders. He is also a director of a number of Fulton Hogan associates including Horokiwi Quarries.
In 2016, the company signed a five-year partnership with the Department of Conservation (DOC) worth NZ$1 million to support its Takahē Recovery Programme. This saw Bob and Jules take part in releasing takahē into the Kahurangi National Park.
“The more we learned about the Takahē Recovery Programme and worked together with DOC and Ngāi Tahu, the more we realised we had a shared interest in a sustainable and multi-generational future for New Zealand,” Bob said when the programme was launched.
2018: $450 million