By David Winning
SYDNEY–Australian building materials supplier Boral raised its earnings guidance amid deepening confidence that customers would absorb price rises and costs are under control.
Boral said it now expected underlying earnings before interest and tax in the 12 months through June to be in a range of 300 million Australian dollars (US$191 million) and A$330 million. That is higher than a prior projection of A$270 million-A$300 million.
Boral said the upgrade incorporated a better financial result for the four months through October, and it was confident that gains achieved in this period could be held through the remainder of the fiscal year.
“Price realization remains extremely important in the current inflationary environment,” said Chief Executive Vik Bansal. “Volumes year to date have been relatively steady and at this stage, we expect this to continue through the remainder of FY 2024.”
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