Australia: Boral has announced that it expects net profit after tax (NPAT) before significant items for the first half of financial 2014 to be US$90m, subject to finalisation of an audit review.
The result is underpinned by favourable weather conditions in Australia, strong volumes from major projects, a significant turnaround in the performance of the Building Products division and benefits from prior year restructuring activities. For 2014, the company expects a significant skew of earnings to the first half of the year compared to the second half of the year, due to lower contributions from major projects and reduced contributions from Boral Gypsum. The latter is expected following the move from a 100% owned division to a 50% joint venture, upon completion of the transaction with USG during the second half of 2014.
