Boral to acquire Knauf Asia plasterboard

Company News

by Rachael Jones

Building products group Boral (ASX:BLD) reported today showing net profit after tax (NPAT) before significant items is down 7 per cent to $440 million.

Commenting on the results CEO & Managing Director, Mike Kane, says in Australia, despite a marked slowdown in housing starts and lower concrete volumes, revenues were steady.

EBITDA remained strong although it was 6 per cent lower than past year.

Boral North America delivered revenue growth of 3 per cent to US$1.59 billion.

Meanwhile, the company is set to acquire Knauf Asia Plasterboard, to form an expanded 50:50 plasterboard joint venture (JV) in Asia.

Boral will return to 100 per cent ownership of USG Boral Australia & New Zealand.

Shares in Boral (ASX:BLD) are trading 17.64 per cent lower at $4.08.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.