The passenger lift

Posted by beranter on August 28th, 2015

The passenger lift also saw Boral's US division returned to profitability for the first time since fiscal 2007, reflecting the ongoing recovery in US housing activity as well as further benefits from business improvement initiatives.Speculation has been rife recently that Boral could be edging closer to striking a deal with an offshore party to sell or partly divest its bricks business in the US.

DataRoom has reported Macquarie Capital is talks with various prospective investors surrounding the assets within the US division, for which analysts valuation estimates range from $US750 million ( billion) to $US1.23bn.Boral today said its expects its US division to report a further increase in earnings in fiscal 2016 on the back of increased housing activity.

Boral chief executive Mike Kane said the results reflected the benefits from the company's overhaul of its business which reduced the size of its workforce and resulted in the closure of some unprofitable operations.“We’ve improved Boral’s cost base, strengthened the balance sheet and we are managing our portfolio of businesses more efficiently," he said.