Boral Limited (ASX: BLD)- Boral Limited rockets on higher profit

Boral Limited

Boral Limited’s (ASX: BLD) stock jumped 10.358% to $7.085 as investors got the good news of 48.5% growth in net profit to $441 million for the year ended 30 June 2018. This price update is as on 29 August 2018 (2:22 PM AEST).

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 47% year on year to $1.06 billion as revenue shot up 34% to $5.9 billion, reflecting the Headwaters acquisition and solid growth in Boral Australia’s revenue.

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The company distributed 14 cents final dividend, franked to 50%, payable on 2 October 2018. This is 2 cents more than what the company has paid last year. In addition to total dividend of 26.5 cps, shareholders bagged 40.4 cents earnings per share for the fiscal 2018. Boral’s principle debt gearing covenant well within threshold of less than 60%.

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