Boral (ASX:BLD) identifies financial irregularities in its US windows business

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by Rachael Jones

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Last Updated: 21/01/2020 2:12 PM

Boral (ASX:BLD) has identified certain financial irregularities in its North American Windows business.

This involves misreporting in relation to inventory levels and raw material and labour costs at their Windows plants.

Based on information currently available, it is estimated the irregularities relating to the period between September 2018 and October 2019 will result in a one-off impact on earnings before interest, tax, depreciation and amortisation (EBITDA) in the order of US$20 million to US$30 million.

The investigation is ongoing.

Shares in Boral (ASX:BLD) closed 1.65 per cent higher at $4.92 yesterday.
 

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.