Boral Limited (ASX:BLD) has again downgraded its profit guidance for the full 2012 financial year because of weather conditions, major construction project delays and weaker property sales.
The building and construction materials manufacturer now expects to report a full year net profit before one-off items of between $100 million to $110 million, assuming two property sales take place before the end of this month.
The latest guidance is down from its original forecast of between $150 million to $175 million that was downgraded by $22 million in April.
Boral says a number of recent events have come together to weaken its trading performance in the fourth quarter which add to the impact of ongoing weakness in the Australian new housing construction market.
In the first half of the 2012 financial year Boral reported a net profit of $150.8 million.
