Boral swings to FY loss

Boral (BLD) is mulling divestments and deeper restructuring of its operations to meet continuing "external pressures" in the current year, after swinging to a loss for the full year on restructuring costs.

The materials giant swung to a $212.1 million loss from a $176.6 million profit in the prior year after booking a $263.3 million hit on property impairment and restructuring costs.

However, full-year group profit after tax before significant items came in at $104 million when analysts had anticipated around $96 million, and at the upper end of management's May guidance for between $90 million and $100 million.

The company says that while there are external pressures and the Australian market will be flat for 2013-14, the building projects loss will reduce significantly and that its US segment will make a profit in the second half of the year.

Revenue rose 5.5% to $5.28 billion in the year to June, from $5.01 billion in the previous corresponding period.

It will pay a final dividend of 6 cents.