A strong local and a recovering housing market in the US helped Boral lift its net profits 64% to $171 million for the year to the end of June.
Sales revenue from continuing operations was up 7% to $4.5 billion for the building products group.
CEO Mike Kane says the focus is on improving the underlying performance of Boral’s businesses through restructuring and portfolio realignment.
“Together with the ongoing housing market recovery in the USA, improved housing activity in Australia and continued growth in Boral’s markets in Asia, these benefits contributed to Boral’s stronger result,” he says.
He expects an improvement in performance across all divisions in the current financial year.
“We expect growth in the US housing market and key markets in Asia but in Australia strength in the housing market and non-residential activity will be offset by a slowdown in roads and infrastructure activity,” he says.
A fully franked final dividend of 8 cents a share, up 33% on last year, was announced.
Details of the results:
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