Boral First Half Loss $25.3m

Construction materials company, Boral (ASX:BLD) reports its first half results for FY2012-13 to the Australian stock market to investors and stock traders.

• Boral made a net loss of $25.3 million in the first half to December. In the previous corresponding period the company made $152.7 million profit.
• $77 million in significant items with impairments brought the result which included costs relating to the suspension of clinker production at Waurn Ponds in Victoria and first half company restructuring and redundancies.
• To re-assure investors, the company has declared a fully franked interim dividend of 5 cents per share (down from 7.5 cents previously). Ex Dividend date of 19 February.
• Last month Boral announced the axing of 700 jobs which is a quarter of its head office staff. By the end of company restructuring a third of Boral staff would be let go.
• No guidance was given for full year results.
• Boral managing director and chief executive Mike Kane said, "Right now we're moulting, and it's not pretty."