Boral (ASX:BLD) withdraws guidance for FY2020

Company News

by Rachael Jones

Boral (ASX:BLD) advised today that given the high level of uncertainty surrounding the spread, duration and impact of COVID-19 on the markets in which it operates, the Company is withdrawing its earnings guidance for FY2020.

Boral’s Managing Director, Mike Kane said: “While we have not yet seen a significant deterioration in demand for our products as a result of direct and indirect COVID-19 impacts, other than in our USG Boral China business, we are now starting to see signs of impacts in our other markets." 

The Company is undertaking measures to respond to the expected demand interruptions and to conserve cash, including reducing all non-essential capital expenditure and discretionary spending.

Shares in Boral (ASX:BLD) are trading 2.53 per cent lower at $2.31.
 

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.