Building materials supplier Boral has flagged weak demand for building units and commercial property could affect second-half earnings, after first-half earnings slipped.
The company on Tuesday said the outlook for its second half was uncertain due to weakness in multi-residential and non-residential construction in Australia.
While all forms of building approvals rose 10.9 per cent in December, Boral said it was unclear whether this would continue or was a response to government stimulus.
Government schemes such as HomeBuilder have promoted building new homes during the pandemic.
Boral reported first-half earnings from continuing operations were down eight per cent to $215 million, compared to the previous first-half.
While the group’s net profit after tax rose 18.2 per cent to $161.4 million, it downplayed this figure as sales were down.
Shareholders will not receive an interim dividend. The previous interim payout was 9.5 cents per share, 50 per cent franked.
Shares were down 1.39 per cent to $5.33 at 1207 AEDT.