Boral Limited
(ASX:BLD) says it’s had a solid first half, but has warned the second half is likely to be significantly skewed.
The building materials manufacturer says it expects to post a first half net profit of about $90 million.
The strong result has been boosted by favourable weather conditions in Australia, strong volumes from major projects and a turnaround in the performance of the building products division.
But Boral says the second half of the fiscal year will be a different story as it’s expecting a lower contribution from major projects, significantly lower profits from property sales as well as the impact of the 50/50 joint venture with Boral Gypsum and USG.
The company says the joint venture completion date has been postponed by about a month to obtain regulatory approvals.
Boral booked a net loss of $205.7 million in fiscal 2013.
