Improved prices and cost reductions drive growth

  • Boral reports a 36% increase in first-half net profit
  • Improved prices and cost reductions contribute to the growth
  • Full-year underlying earnings expected to exceed previous estimates
  • Underlying EBIT more than doubles compared to the previous year
  • Boral expects underlying EBIT of A$330-350 million for fiscal 2024
  • No interim dividend to be paid due to low franking credit balance

Australian building materials supplier Boral has announced a significant increase in its first-half net profit, with a growth of 36%. The company attributes this growth to improved prices and cost reductions. Boral’s underlying earnings before interest and taxes have more than doubled compared to the previous year, reaching A$201.0 million. The company now expects its full-year underlying earnings to exceed previous estimates, with an estimated underlying EBIT of between A$330 million and A$350 million for fiscal 2024. However, due to Boral’s low franking credit balance, the directors have decided not to pay an interim dividend.

Public Companies: Boral (N/A)
Private Companies:
Key People:

Factuality Level: 8
Justification: The article provides specific financial figures and quotes from the company, indicating that the information is based on factual data. However, it does not provide any opposing viewpoints or potential risks, which could affect the overall factuality level.

Noise Level: 7
Justification: The article provides financial information about Boral’s first-half net profit and full-year earnings. However, it lacks analysis or context about the company’s performance, industry trends, or potential risks. It also does not provide any evidence or data to support the claims made. The article is focused on reporting the numbers without providing actionable insights or exploring the consequences of the company’s decisions.

Financial Relevance: Yes
Financial Markets Impacted: The financial markets that may be impacted by this news are the Australian stock market and the building materials industry.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the financial performance and earnings of Boral, an Australian building materials supplier. However, there is no mention of any extreme event or its impact.

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