Fletcher Building boss Mark Adamson said that Australian politicians are all talk about building new roads, bridges, and rail, and he thinks New Zealand is a much happier place for construction materials providers.
Two years on from Tony Abbott's pledge to be Australia's infrastructure prime minister, Mr Adamson said there is a marked difference in the way big projects are done in Fletcher's two biggest markets.
"The Aussies talk about it. The Kiwis get on and do it," he said. 
"We are having lots and lots conversation with various branches of Kiwi government about improvements to infrastructure and they move nicely through to tendering.
"I've got a list of [Australian] plans in my draw and they haven't changed for 2\xC2&#189; years."
At Fletcher's interim result in   February Mr Adamson said he doubted Canberra had the political will to deliver up to $120 billion worth of new airports, roads, and rail lines outlined by Treasurer Joe Hockey.
He also slammed the Victorian Labor government's decision to tear up the $6.8 billion contract to build Melbourne's East-West link.
He said on Wednesday that nothing in Australian politics surprises him any more.
"We are far more fortunate in New Zealand with a government structure that understands business. I don't find it [Australian politics] surprising. It is a form of entertainment," he said.
The John Key-led conservative government in New Zealand is not impressed by the Abbott administration either, seeing a government with slogans but no reform narrative.
Mr Adamson's comments come as the $4.7 billion building products and construction materials giant reported a 20 per cent drop in after-tax profit to $NZ270 million ($241 million).
Goodwill writedowns and site closure costs totalling $NZ150 million weighed on the result. Excluding the $NZ150 million of charges, profit rose 10 per cent to $NZ399 million.
Group revenue rose 3 per cent to $NZ8.7 billion. Revenue in New Zealand rose 10 per cent to $NZ4.4 billion while revenue in Australia fell 7 per cent to $3.1 billion.
Revenue from the group's other global operations, which includes China, Europe, and the United States, rose 9 per cent to $NZ1.9 billion.
Mr Adamson said that his Australian business is "a tale of two cities" as record new home building drives sales of insulation, laminates and panels, while business exposed to infrastructure projects and the resources sector languish.
The Iplex business, which makes plastic pipes for the gas and water industries, is losing $30 million in earnings before interest and tax a year in Australia.
"Coal seam gas has come to a grinding halt," Mr Adamson said
Mr Adamson said he did not want to disrupt his management team with any sudden strategic changes at Iplex but he is considering how Fletcher could change the industry structure.
"Is there anybody out there we could buy or anyone we could sell to? It is unlikely anyone would buy a business that is losing $30 million," he said.
Alongside the earnings release Fletcher announced it has agreed to sell its Rocla Quarry Products business to Hanson for $203 million.
The deal is subject to approval from the Australian Competition and Consumer Commission. Fletcher expects to book a pre-tax profit of $100 million on the sale after it closes in   January.
"Rocla Quarry Products is a great business with a proud heritage but it is not a strategic part of our Australian portfolio," Mr Adamson said.
The company said it expects red hot housing construction in Australia and New Zealand will remain strong but start to ease from record levels. Non-residential construction in Australia is tipped to be anaemic again in 2015-16.