Cement News tagged under: Boral
Boral lifts 1HFY13 net profit guidance, Australia23 January 2013, Published under Cement NewsBoral Ltd today announced that following stronger-than-expected performance in the December 2012 quarter, it expects net profit after tax (before significant items) for the first half of FY13 to be approximately AUD52m, subject to finalisation of the audit review. At its 2012 Annual General Meeting on 1 November, the company had said that it expected Boral’s first half FY13 net profit after tax (before significant items) to be comparable with that achieved in the second half of FY2012, whic... |
Boral announces further job cuts in new restructuring plan17 January 2013, Published under Cement NewsBuilding materials major Boral has announced a further round of job cuts, predominantly across its Australian operations, following a 100-day review of the company by its chief executive Mike Kane . The company is to cut 700 functional, operational support and managerial positions jobs in Australia. Of those 700, some 200 have already occurred in late 2012, with the majority of redundancies expected to be completed by March 2013. New South Wales is to bear the brunt of the cuts, accou... |
Union meets workers over Boral job cuts, Austraila11 December 2012, Published under Cement NewsThe Australian Workers Union (AWU) is meeting today with workers who are expected to lose their jobs at Boral's Waurn Ponds cement plant in Victoria, Australia, according to reports by ABC News. Around 90 jobs are likely to be axed, after a restructure of the company's operations. Union spokesman Cesar Melhem says the workers are devastated, adding that the decision will have a flow-on affect to other trades, including subcontractors, in the area. Last week Boral announced that it would ha... |
Boral sees US housing recovery02 November 2012, Published under Cement NewsAustralian market conditions have remained difficult in the quarter to the end of September, though weather conditions have been somewhat better. While infrastructure investment has been strong, this has not been sufficient to offset the continued negative impact coming from the residential market. Cement pricing has been weak because of low import parity costs that reflect low bulk shipping rates and a strong Australian dollar. A review of the cement operations is currently underway to r... |
Boral announces new CEO, Australia18 September 2012, Published under Cement NewsMike Kane has been appointed Chief Executive Officer and Managing Director of Boral Limited, effective 1 October 2012. Mike Kane will replace Ross Batstone who became Boral’s Chief Executive Officer in May 2012 when Mark Selway stood down from the role. At that time the Board commenced a comprehensive international search for a new Chief Executive Officer. Mr Kane joined Boral in February 2010 in the role of President Boral USA. He has spent the past two and half years significantly realig... |
Australia: market uncertainties ahead03 September 2012, Published under Cement NewsChallenging market conditions persist for Australia's cement sector due to weak residential and commercial activity combined with the potential impact of a new carbon tax which became effective last month. Last year saw a decline in housing starts as rising interest rates coincided with the end of stimulus packages. In November 2011, the Reserve Bank cut interest rates by 25bp to spur the market into recovery although it was unable to stop further declines in financing approvals. Latest da... |
Australia's Boral 2H profit slumps22 August 2012, Published under Cement NewsHit by weak housing construction in Australia and delays in big resource and road projects, top Australian building products maker Boral Ltd reported a 59 per cent fall in second-half profit, in line with market forecasts. Boral declined to give a forecast for the year ahead, in light of uncertain market conditions, but said it would update investors at its annual meeting in November. Net profit for the six months to June fell to AUD34.2m (US$35.6m) from AUD83m a year earlier, as calculat... |
Boral lowers expectations, Australia27 June 2012, Published under Cement NewsBoral has announced that it expects net profits for the year ending June 2012, to be in the region of AUD100m-110m, assuming that two property disposals are still completed this month, as anticipated. This compares with a previous guidance of AUD128m to AUD153m, made in April. While the performance in Asia and in the USA have been largely in line with expectations, the Australian performance in the final quarter is proving to be well short of expectations. The reasons cited by the co... |
Boral’s chief executive steps down, Australia24 May 2012, Published under Cement NewsThe Board of Boral Limited today announced that the Chief Executive, Mr Mark Selway, will step down from his role effective immediately. He will remain in employment with the Company until 31 July 2012 to assist with transition arrangements. Ross Batstone, currently Divisional Managing? Director Boral Building Products, has been appointed Acting Chief Executive Officer while a global search for a successor to Mr Selway is undertaken. Dr Bob Every, Boral’s Chairman, said: “Over the last... |
Boral’s first half profit falls, Australia29 February 2012, Published under Cement NewsAustralian building materials producer Boral’s turnover in the six months to the end of December improved by 1.9% to AUD$2,433m (€1,976m) while the EBITDA declined by 11.9% to AUD$237m (€192m) and the trading profit falling by 26.9% to AUD$109m (€86m). The net interest charge is now on the way up again and it rose by 9.7% to AUD$34m (€27m) and the pre-tax profit fell by 35.9% to AUD$75m (€61m). Net debt at the end of December rose by almost 2½ times to AUD$1,544m (€1,254m) to give a gearing ... |