Boral announces property earning and trading update

Company News

by Anna Napoli

Boral (ASX:BLD) has announced March quarter earnings for Boral North America and Boral Australia were below expectations due to challenging conditions and bad weather.

In good news for the company, Boral Australia has completed the sale of its Prospect Masonry property to ISPT.

The sale of the property will add around $56 million to the company’s earnings for the 2018 financial year.

The company has updated its financial year guidance for both North America and Australia.

Boral Australia now expects to deliver improved earnings (EBIT and EBITDA) growth of 10-20 per cent for the 2018 financial year when compared to the same time last year

While Boral North America expects to deliver a second half earnings lift of 10-25 per cent compared to the first-half result.

Shares in Boral (ASX:BLD) are trading down 7.17 per cent to $6.99

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.