Brief: Boral Ltd Says FY Net Profit Before Significant Items Down 40.3% TO A$149.7 Mln

Boral

23/08/2022 24:34

Aug 23 (Reuters) - Boral Ltd  BLD.AX :
    * FY REVENUE FROM CONTINUING OPERATIONS UP 1.1% TO A$2,955.9
MILLION
    * FY NET PROFIT BEFORE SIGNIFICANT ITEMS DOWN 40.3% TO
A$149.7
MILLION
    * FY TOTAL REVENUE DOWN 26.9% TO A$3,908.2 MILLION
    * SEES FY2023 REVENUE TO BE HIGHER THAN FY2022
    * FY2023 CAPITAL EXPENDITURE TO BE APPROXIMATELY A$235
MILLION
(INCLUDING NEW LEASES)
    * EXPECT MOMENTUM TO IMPROVE IN FY2023 AND TO BENEFIT FROM
SEVERAL
KEY PROJECTS
    * SEES A HIGH RISK OF FURTHER ADVERSE IMPACTS DUE TO
EXCEPTIONAL
RAINFALL IN FY23
    * SEES EFFECTIVE TAX RATE TO BE CLOSE TO AUSTRALIAN
CORPORATE TAX
RATE OF 30% IN FY
    * REDUCTION OF ROLES FROM ORGANISATIONAL RESET WILL DELIVER
ANNUALISED COST SAVING OF A$24 MILLION IN FY2023
    * SEES INCREASING USE OF ALTERNATIVE FUELS AT ITS BERRIMA
CEMENT
KILN FROM 15% TO 30% BY LATE FY2023, REDUCING RELIANCE ON COAL

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