The new CEO of building products group Boral says the nine interest rates rises by the Reserve Bank haven’t crimped demand by customers yet for cement, asphalt and gravel.
The new chief executive of building products group Boral says the nine interest rates rises by the, said on Wednesday there would be more price rises to come on top of a February 1 increase for cement and concrete, as inflation persisted at worrying levels.Boral hasn’t seen a slowing in demand for cement – yet.The aggressive hikes from the RBA since last May hadn’t put the brakes on demand at Boral. “We are not seeing orders slowing,” he said.
under Mr Bansal. But shareholders will need to be patient still, with no first half dividend being paid.He believes the Australian economy should be OK in 2023. “I’m not a big bull, nor am I a bear,” he said. But inflation in fuel costs, energy and cartage costs was running way too high. Boral shares climbed 11.4 per cent to $3.92 by noon AEDT after Mr Bansal delivered a solid result showing the group, which isHe has implemented a flatter management structure and more cost disciplines, and signalled that he would remain consistently tough on costs.The company on Wednesday announced that revenue climbed 12 per cent to $1.68 billion for the six months ended December 31, from its network of 361 operating sites across concrete, asphalt, quarries and cement facilities.
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