Boral swings to FY loss

Group to look at divestments, continue to restructure to meet 'external pressures' in FY14.

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.

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