WELLINGTON, Aug 8, 2007 (AFP) - New Zealand-based Fletcher Building, the world's largest maker of laminated board, said Wednesday that annual net profit rose 28 percent, reflecting the impact of a one-off tax benefit.

Net profit in the year to June came to 484 million dollars (367 million US), up from 379 million dollars the previous year.

The improved result included a 70 million dollar one-off tax benefit, while operating earnings before tax and interest rose four percent to 703 million dollars.