AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
_10_14_2022_03_50_44_464571.jpg){kind=icon}
Highlights:
- Belinda Shaw would take up the position of Boral’s CFO from 30 January 2023.
- Presently, she is an acting CFO at Sydney Airport.
- Belinda has held several senior positions at General Electric Company.
Building and construction materials supplier and manufacturer, Boral Limited (ASX:BLD) on Friday (14 September 2022) shared that it has appointed Belinda Shaw as its chief financial officer. Shaw will take up his roles and responsibilities from 30 January 2023.
Belinda would take over from Jared Gashel. He has held the position of acting CFO since 19 April 2022.
BLD shares, reacting, were trading 1.87% higher at AU$2.710 apiece at 1:15 PM AEDT today.
About Belinda Shaw
According to the announcement, Belinda brings substantial experience as she held finance and senior executive roles. Currently, she is an acting CFO at Sydney Airport. Also, Belinda has held several senior executive roles at General Electric Company (GE). Her roles spanned across geographies such as America and Asia. In GE, she worked as CFO global Locomotive, CFO Global Mining and CFO ANZ & PNG.
Image source: © Tonsnoei | Megapixl.com
On the appointment, Vik Bansal, CEO and managing director of Boral, commented,
Financial performance of Boral in the financial year 2022
Boral shared its full-year results for the financial year 2022 (FY22) on 23 August 2022. The company reported a 1% increase in sales revenue from continuing operations. During the year, EBITDA has dropped 19%, EBIT down by 32%, operating cash flow by 16% and return on funds employed by 7.5%.
Zlatko Tadorcevski, CEO and managing director of Boral, quoted external operation factors as the reason for the drop in yearly earnings.
For FY23, the company expects to report higher revenue than FY22, driven by an increase in volume and price. Volume is expected to be pushed higher because of fewer disruptions. Moreover, the company expects an increase in price along with an improvement in performance to offset the impact of total cost inflation.
Share price snapshot of Boral
Boral's share price has dropped 4.58% in the past five trading sessions. In 12 months, it has declined 56.78% and recorded a fall of 22.35% in the past six months. On a year-to-date basis, it has marked a fall of 56.29%.
The market capitalisation of Boral is AU$2.93 billion.
