Boral's pre-tax profit rises by 38.9%

Boral's turnover in its financial year to the end of June 2015 declined by 15.2 per cent to AUD4415m (EUR2893m) but the EBITDA improved by 8.8 per cent to AUD605m (EUR396m). The trading profit advanced by 21.4 per cent to AUD357m (EUR234m) and after a net interest charge 22.9 per cent lower at AUD64m (EUR42m) the pre-tax profit rose by 38.9 per cent to AUD293m (EUR192m). The net attributable profit increased by 48.6 per cent to AUD257m (EUR168m).

Net debt at the end of June was increased by 13.8 per cent from the level a year earlier to AUD817m (EUR535m), giving a gearing level of 23 per cent, compared with 21 per cent a year earlier, while capital expenditure in the year was 6.7 per cent lower at AUD250m (EUR164m).

Cement, lime, aggregates, asphalt and concrete
The cement, lime, aggregates, asphalt and concrete operations generated a turnover six per cent lower at AUD3091m (EUR2026m), but the EBITDA was nine per cent lower at AUD485m (EUR318m). Cement turnover declined by 4.2 per cent and the trading profit remained strong, though the volume declined by two per cent and the average price did improve by one per cent. The special cement kiln at Maldon was closed in December.

Turnover in concrete improved by 2.6 per cent to AUD1376m (EUR902), while in aggregates there was a 15.7 per cent reduction to AUD436m (EUR286m), and in asphalt there was a 9.1 per cent reduction to AUD712m (EUR467m). Volumes improved by three per cent in concrete but declined by two per cent in aggregates.

Building products
Boral Building products generated a turnover 0.4 per cent lower at AUD485m (EUR318m), with brick volumes ahead by five per cent and roofing volumes improving by three per cent, but softwood volumes declined by three per cent and underlying hardwood deliveries were four per cent lower but in absolute terms there was an 18. per cent reduction. EBITDA recovered by a further 72.4 per cent to AUD50m.

Gypsum division
The gypsum division, which became an associate last year, contributed a total turnover 16.2 per cent higher at AUD1268m (EUR831m) as EBITDA rose by 35.8 per cent to AUD201m (EUR132m) and the trading profit advanced by some 38 per cent to AUD141m (EUR92m). Turnover in Australia and New Zealand increased by 16 per cent to AUD432m (EUR283m) as board volumes increased by 11 per cent while in Asia there was a 16 per cent advance to AUD836m (EUR566m) on volumes one per cent higher.               

Boral USA
Boral USA's EBITDA jumped from US$3m to US$42m (AUD50m). Brick and other cladding sales advanced by 15.8 per cent to US$374m and roofing turnover improved by 14.4 per cent to US$159m while the turnover in fly ash and other construction materials was just one per cent ahead at US$162m, Brick volumes increased by eight per cent while roof tile volume was up by 11 per cent.