Boral looks for improved Australian, Indonesian and Thai results

Boral looks for improved Australian, Indonesian and Thai results
09 February 2011

Boral’s turnover in the six months to the end of December improved by 2.5% to A$2388m (EUR1791m) and the EBITDA by 3.9% to A$269m (EUR207m), with the trading profit advancing by 12% to Aus$149m (EUR 112m). 

With a 36.7% drop in the net interest charge to Aus$31m (EUR 23m), the pre-tax profit advanced by 39.3% to A$117m (EUR 88m). Net debt at the end of December dropped by 49.1% at A$634m (EUR 475m) to give a very modest gearing of just 20%. Capital expenditure was almost doubled to A$88m (EUR 66m) and A$128m (EUR 96m) was spent on acquisitions.

The turnover of the cement division, which also includes aggregates and concrete in Indonesia and Thailand, increased by 3.8% to A$271m (€203m), of which Australian cement represented 56% and Asia the remainder. The EBITDA advanced by 17.1% to A$82m (€61m). Blue Circle Southern Cement sold 7% less cement at marginally higher prices. The Queensland joint venture, Sunstate Cement, stands to benefit from rebuilding work following the serious flooding.  The Indonesian turnover was off by around 5% to A$78m (€58m), with margins suffering from increased competitive pressure.  The Thai business did increase volumes by 21% and became profitable after a loss-making period.
Published under Cement News