Boral Ltd (ASX:BLD) says it is on track to deliver its full year net profit guidance of between $160 to $175 million from continuing operations.
Despite continued weather-related delays and a softening of residential markets across Australia, the building materials supplier says it has performed in line with expectations says in the nine months to the end of March, 2011.
Boral says its results continue to benefit from a positive currency translation, in particular the strengthening of the Australian dollar against the US dollar.
Boral’s latest full year guidance compares with a full year net loss of $91 million in the last financial year.
In the first six months of the 2011 financial year, Boral improved its net profit by 28 per cent to $92.7 million.
