Boral is getting its act together after years of failing to deliver profitable growth from the surge in Australia’s infrastructure and construction sectors.
P ASX200 Index over a long period. The stock underperformed the index by 77 per cent over 10 years, 75 per cent over five years, 4 per cent over two years and 13 per cent over one year, according to Bloomberg.in a drawn-out $8 billion takeover play that is starting to deliver in spades. He spent $7.40 a share, but has since benefited from $2.72 a share in dividends and capital returns.
Also, he has decided to abandon Boral’s habit of regularly announcing large-scale cost-cutting programs. He says this was damaging to staff morale and at odds with the key objective of occupational health and safety. Citi analyst Samuel Seow says the highlight was the concrete sales of $822 million, which was 18 per cent better than the consensus of $697 million, which he says implies “price traction”.Bansal says the volume growth and price increases pushed through in the half year to December are not delivering higher operating margins because costs have been rising.
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