Boral release FY15 results

Boral has reported a 45% increase in net profit after tax for the year ended 30 June 2015. Boral reported a net profit after tax of US$257 million, up 48% on the previous year.

Sales revenue from continuing operations of US$4.3 billion was in line with the prior year. Boral’s reported sales revenue for the year of US$4.4 billion was 15% below the prior year, reflecting the impact of a full year of 50% post-tax equity accounting in the Gypsum division following the formation of the USG Boral joint venture on 1 March 2014.

Earnings before interest and tax (EBIT) before significant items increased 21% to US$357 million driven by higher earnings from Construction Materials & Cement (including Property), Boral Building Products and Boral USA, offset by a lower Gypsum contribution following a full year of equity accounting for the 50% owned USG Boral joint venture operations.

Net debt of US$817 million at 30 June 2015 increased by US$99 million since 30 June 2014 largely due to the impact of foreign currency translation of US denominated debt; gearing2 of 19% remains low.

A fully franked final dividend of 9.5 cents per share, up 19% on last year, was announced and will be paid on 28 September 2015, bringing the full year fully franked dividend to 18.0 cents.

Adapted from press release by Joseph Green

Read the article online at: https://www.worldcement.com/asia-pacific-rim/15092015/boral-release-fy15-results-552/