Australia's Boral hits 5-1/2-year high on strong FY24 outlook

Boral

10/08/2023 01:53

** Shares of Boral Ltd  BLD.AX  rise as much as 8% to
A$4.72, their highest since Feb 27, 2018
    ** The cement products maker says it expects FY24 EBIT
between A$270 mln ($176.36 mln) and A$300 mln, compared with
A$231.5 mln in FY23
    ** Says its FY23 net profit before significant items from
continuing operations more than quadrupled to A$142.7 mln
    ** Given the strength of the A$190 billion Australian
construction pipeline, it looks like BLD can deliver at or above
the top-end of the FY24 EBIT range - Jefferies
    ** Boral is the second-biggest gainer in the ASX 200
benchmark index  .AXJO 
    ** Stock up 51.2% YTD, as of last close 
 


($1 = 1.5309 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))