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News Boral profit grows by 23% to US$97.2m for half year

Boral profit grows by 23% to US$97.2m for half year

Written by Global Cement staff 10 February 2016
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Australia: Boral’s profit after tax has grown by 23% year-on-year to US$97.2m in the first half of its 2016 financial year. It reported a profit of US$80m for the same period in its 2015 period. It attributed the growth to a strong residential
market and growth in New South Wales (NSW) with cost cutting, price rises and slightly higher property earnings for its construction materials and cement business. Overall revenue fell by 4% year-on-year to US$1.6bn.

“The success of the first half is underpinned by a very strong residential construction market in NSW, a solid performance in South-East Queensland, further recovery in the US and a successful growth strategy in the gypsum business in Australia and Asia,” said Boral CEO and Managing Director Mike Kane

Boral’s cement business reported a 6% rise in external revenue to US$113m. Profitability was also aided by cost cutting inititaives including improved utilisation of assets and sourcing of raw materials and energy at lower cost.

Last modified on 29 January 2019
Published in Global Cement News
Tagged under
  • Australia
  • Boral
  • Results
  • GCW237
  • cement boards

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