Australia: Building materials supplier Boral says that its prospects are improving as government infrastructure spending increases and industrial turmoil recedes. "After reporting lower earnings for two years running, we have clearly turned the corner," said Boral's chief executive Mike Kane.
Boral swung to an annual net profit after tax of US$161m in the financial year ending 30 June 2014, bouncing back from a US$192m net loss in the financial year ending 30 June 2013. The full-year result showed market conditions had improved across all of its divisions in Australia, the US and Asia.
Kane also expressed confidence in the American USG-Boral joint venture, which will soon launch a new lightweight gypsum board into 12 markets across Australia, Asia and the Middle East.
