Building materials maker Boral has reported a 7.0 per cent in full-year profit, hurt by a slide in construction activity in its home market.
Underlying net profit after tax for the year ended June 30 came in at $A440.1 million compared with $A473.2 million a year ago.
The company also announced on Monday it will pay $US241 million ($A358.4 million) to buy a half share of the USG Boral Asia joint venture, which will encompass Knauf’s Asia plasterboard business.
Boral will also buy out Knauf’s 50 per cent stake in USG Boral Australia and New Zealand, returning the business to full Boral control.
The overall deal will cost Boral $US441 million ($A655.9 million).
AAP