Australian Investment Blog
29/08/2018
Boral (BLD) – Strong result, good guidance
Stock
Boral (ASX:BLD) $6.95 as at 29/08/2018
Event
This morning Boral (ASX:BLD) reported their full year results and they were above market expectations by around 3%. Adjusted net profit after tax came in at $514m versus the markets expectation of $497m whilst most other metrics were strong. Revenue was up 34% with both the Australian and US operations ticking along nicely. The market was bearish BLD leading into this result after what seemed to be a tough year as they bedded down the $3.5bn Headwaters acquisition.
BLD is trading around 14x FY19 earnings and that compares well to international comparatives. Watch for broker upgrades to filter through tomorrow
Boral (BLD) Chart
Market Matters Take/Outlook
A good result from BLD today with guidance that was strong, but broadly inline with existing market expectations. Expect analysts to roll forward valuations and on the back of the beat in FY18, upgrades to flow through.
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