Boral on Track with Profit Guidance

Submitted by Sharemarket News on 11 May, 2011 - 11:09

Boral (ASX:BLD) says that its full year net profit will be $160-175 million and that the company was on track to meet its profit guidance. Despite weather disruptions and soft residential markets in both Australia and the United States earlier in the year, Boral said that its year to date guidance supports the previous full year net profit after tax.

"During the nine months to the end of March, the Group has continued to perform in line with expectations despite continued weather-related delays and a softening of residential building across many parts of Australia," said Boral in a statement.

"The Group's results continue to benefit from a positive currency translation effect in the period, most notably from the strengthening of the Australian dollar against the US dollar."

In 2009-10, Boral booked an annual net loss $91 million and of $19 million net loss from continuing operations.

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