Boral to acquire Knauf Asia plasterboard

26Aug

Boral to acquire Knauf Asia plasterboard

 

Building products group Boral (ASX:BLD) reported today showing net profit after tax (NPAT) before significant items is down 7 per cent to $440 million.

Commenting on the results CEO & Managing Director, Mike Kane, says in Australia, despite a marked slowdown in housing starts and lower concrete volumes, revenues were steady.

EBITDA remained strong although it was 6 per cent lower than past year.

Boral North America delivered revenue growth of 3 per cent to US$1.59 billion.

Meanwhile, the company is set to acquire Knauf Asia Plasterboard, to form an expanded 50:50 plasterboard joint venture (JV) in Asia.

Boral will return to 100 per cent ownership of USG Boral Australia & New Zealand.

Shares in Boral (ASX:BLD) are trading 17.64 per cent lower at $4.08.

Copyright 2019 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

16Apr

Auckland Airport’s (ASX:AIA) COVID-19 passenger volumes decrease

16 Apr 2020 - Auckland Airport (ASX:AIA) has reported just how much of a toll the COVID-19 crisis has taken on the travel industry so far.

Read More
09Dec

Fortescue Metals Group (ASX:FMG) celebrates first ore at Eliwana Mine

09 Dec 2020 - Fortescue Metals Group (ASX:FMG) are celebrating a significant milestone in the development of its iron ore operations in the Pilbara, as the first ore comes through the Eliwana mine and rail project in the Western Hub.

Read More
19Jan

BINGO (ASX:BIN) has recieved a $3.50 a share cash bid

19 Jan 2021 - BINGO (ASX:BIN) has received an unsolicited, highly conditional, non-binding, indicative proposal from funds advised by CPE Capital on behalf of CPEC and its potential co-investors which include Macquarie Infrastructure and Real Assets for the acquisition of BINGO.

Read More
25Aug

Mosaic Brands (ASX:MOZ) to close up to 500 stores

25 Aug 2020 - Apparel retailer Mosaic Brands (ASX:MOZ) is getting ready to permanently close up to 300-500 of its stores over the next two years, dependent on leases.

Read More
05Dec

Auswide Bank (ASX: ABA) partners with National Seniors Australia

05 Dec 2019 - Auswide Bank (ASX: ABA) has partnered with National Seniors Australia to provide their members with access to a range of fixed interest term deposits.

Read More
17Feb

Regis Resources (ASX:RRL) record net profit up 17%

17 Feb 2020 - Regis Resources (ASX:RRL) has reported net profit is up 17 per cent to $93.4 million compared to the same corresponding period where it stood at $79.9 million.

Read More
18Mar

Monadelphous Group (ASX:MND) secures 5 year crane contract with Fortescue Metals (ASX:FMG)

18 Mar 2021 - Engineering company Monadelphous Group (ASX:MND) has secured a new five-year crane services contract with Fortescue Metals Group Ltd (ASX:FMG).

Read More
23Dec

The Bank of Queensland (ASX:BOQ) raises $90m from retail shareholders

23 Dec 2019 - The Bank of Queensland (ASX:BOQ) had a well supported share purchase plan having received applications for approximately $90 million from shareholders.

Read More
29Jan

Phoslock Environmental Technologies (ASX:PET) appoints new director

29 Jan 2021 - Engineering solution provider, [Foss -Lock] Phoslock Environmental Technologies (ASX:PET) has appointed Barry Sechos to the board.

Read More
14Jul

The Decmil Group (ASX:DCG) preferred for $175m WA project

14 Jul 2020 - The Decmil Group (ASX:DCG) says the Western Australian Government has named them as preferred proponent to build a $175 million ring road around Albany, Western Australia.

Read More