Boral (ASX:BLD) identifies financial irregularities in its US windows business - Sequoia Direct Pty Ltd

06DecDecember 6, 2019

Boral (ASX:BLD) identifies financial irregularities in its US windows business

Boral (ASX:BLD) has identified certain financial irregularities in its North American Windows business.

This involves misreporting in relation to inventory levels and raw material and labour costs at their Windows plants.

Based on information currently available, it is estimated the irregularities relating to the period between September 2018 and October 2019 will result in a one-off impact on earnings before interest, tax, depreciation and amortisation (EBITDA) in the order of US$20 million to US$30 million.

The investigation is ongoing.

Shares in Boral (ASX:BLD) closed 1.65 per cent higher at $4.92 yesterday.

Copyright 2019 – Finance News Network

Source: Finance News Network

Related Posts

10OctOctober 10, 2019

Viva Energy’s (ASX:VEA) proposed acquisition not opposed

10 Oct 2019 - The ACCC won’t oppose the proposed acquisition of the remaining 50 per cent interest in Liberty Oil Holdings Pty Ltd’s (Liberty) wholesale business by Viva Energy Australia, a wholly owned entity of Viva Energy Group (ASX:VEA).

12MayMay 12, 2020

Brett Blundy resigns as non-exec director of the Accent Group (ASX:AX1)

12 May 2020 - Footwear retailer the Accent Group (ASX:AX1) reports that today Brett Blundy has resigned as a non-executive director.

18AugAugust 18, 2020

Cochlear (ASX:COH) posts a $238 million loss

18 Aug 2020 - Cochlear (ASX:COH) had a strong start to FY20 with cochlear implant units growing 13 per cent in the first half but report a net loss of $238.3 million.

22FebFebruary 22, 2021

Costa Group Holdings (ASX:CGC) results beat expectations

22 Feb 2021 - Costa Group Holdings (ASX:CGC) the grower, packer and marketer of fruit and vegetables today report a full year statutory net profit of $60.8 million, from a loss of $36.1 million a year ago – an increase of 108.4 per cent.

04MarMarch 4, 2020

Starpharma (ASX:SPL) see Okamoto licence Vivagel condoms in Asian countries

04 Mar 2020 - Starpharma (ASX:SPL) today announced that following the successful launch of the VivaGel antiviral condom by Okamoto Industries in Japan, they are now seeking to expand its licence territory in Japan.

06JanJanuary 6, 2020

Dexus (ASX:DXS) says GIC has increased its ownership in DALT

06 Dec 2020 - Dexus (ASX:DXS) says the second tranche rights were exercised for Singapore’s GIC to acquire an additional 24 per cent interest in the Dexus Australian Logistics Trust core portfolio.

02JunJune 2, 2023

Stocks of the Hour: Magnis, Aurora Labs, Grand Gulf Energy

02 Jun 2023 - A snapshot of the stocks on the move featuring Magnis (ASX:MNS), Aurora Labs (ASX:A3D) and Grand Gulf Energy (ASX:GGE).

09DecDecember 9, 2020

Kazia Therapeutics (ASX:KZA) see promising data from Phase 1 ovarian cancer trial

09 Dec 2020 - Kazia Therapeutics (ASX:KZA) released data from their phase 1 study of Cantrixil in patients with ovarian cancer.

26AugAugust 26, 2024

Stocks of the Hour: Actinogen Medical, Kalina Power, Iltani Resources

26 Aug 2024 - A snapshot of the stocks on the move, featuring Actinogen Medical (ASX:ACW), Kalina Power (ASX:KPO) and Iltani Resources (ASX:ILT).

31DecDecember 31, 2020

ENN nominate new non-executive director

31 Dec 2020 - Santos (ASX:STO) reports that Yujiang (Eugene) Shi will be appointed to the Board as the ENN nominated non-executive director effective from today.