Boral posts 49% net profit surge in FY18

Boral posts 49% net profit surge in FY18
30 August 2018

Australia’s Boral has announced a 49 per cent YoY surge in in net profit to AUD441m (US$322.45m) for the FY18 ended 30 June. Sales revenue increased 34 per cent to AUD5.9bn, while EBITDA advanced 47 per cent to AUD1.06bn.

The significant earnings growth has been attributed to the acquisition of Headwaters Inc in the US, alongside Australia’s booming construction market, according to a press release.

"In recent years we have worked to initially fix and then transform Boral’s portfolio to leverage strong markets in Australia, and capitalise on opportunities to grow in North America and in USG Boral’s markets in Asia, Australasia and the Middle East," said Mike Kane, CEO and managing director.

"While our business is not immune to unfavourable weather impacts and operational disruptions, the full year results confirm that our transformation strategy is progressing well, and that Boral can deliver significant earnings with highly attractive margins," said Mr Kane.

Published under Cement News

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