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. ASX:BLD financial numbers

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 asx bld chart boral ltd

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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