E32 Construction Services

Seven closes in on control of Boral

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Original article by Nick Evans
The Australian – Page: 13 & 16 : 9-Jul-21

Seven Group’s stake in Boral has risen to 40.95 per cent after the takeover target repurchased an additional $131m worth of its own shares on 8 July. Boral has now bought some $772.2m of its issued shares since launching a buyback program in April. The building materials group paid an average of $7.402 apiece for its latest tranche of shares, which is in line with Seven’s offer of $7.40 per share. An independent expert’s report has valued Boral’s shares at between $8.25 and $9.13. Seven’s takeover bid is scheduled to close on 15 July.

CORPORATES
BORAL LIMITED – ASX BLD, SEVEN GROUP HOLDINGS LIMITED – ASX SVW

New Seven bid too low, Boral tells investors

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Original article by Perry Williams
The Australian – Page: 15 : 2-Jul-21

Seven Group Holdings has increased its takeover bid for Boral to $7.30 per share after lifting its stake in the building materials group to the previously flagged threshold of 29.5 per cent. Seven had initially offered $6.50 per share, and its offer will rise to $7.40 if it gains 34.5 per cent of Boral by 7 July. Boral has described the revised offer as ‘ opportunistic’ and notes that an independent expert’s report has valued its shares at between $8.25 and $9.13.

CORPORATES
SEVEN GROUP HOLDINGS LIMITED – ASX SVW, BORAL LIMITED – ASX BLD

Bring back watchdog: Boral

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Original article by Andrew White
The Australian – Page: 21 : 25-Aug-16

Listed building materials group Boral has posted a 2015-16 net profit of $A256m, which is in line with its previous result. Its after-tax profit rose by nine per cent to $A268m when significant items totalling $A12m are excluded. Meanwhile, CEO Mike Kane has called for bipartisan support for legislation to reinstate the Australian Building & Construction Commission. He has also rejected calls for the creation of an anti-corruption agency that has broader scope than the construction industry.

CORPORATES
BORAL LIMITED – ASX BLD, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CSR LIMITED – ASX CSR

Boral shifts focus to new infrastructure

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Original article by Tim Binsted
The Australian Financial Review – Page: 19 : 11-Feb-16

Building materials group Boral has posted a 2015-16 interim net profit of $A136.6m, which is 31 per cent higher than previously. EBIT rose by 19 per cent to $A200m, but revenue was four per cent per cent lower at $A2.2bn. The group’s construction materials division has reported half-year EBIT of $A159m, an increase of six per cent, while its US arm posted EBIT of $A8m. Shareholders will receive an interim dividend of $A0.11 per share.

CORPORATES
BORAL LIMITED – ASX BLD, RBC CAPITAL MARKETS, CSR LIMITED – ASX CSR, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, PERPETUAL LIMITED – ASX PPT

GWA Group cuts earnings guidance

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Original article by Tim Binsted
The Australian Financial Review – Page: 15 : 30-Jun-15

GWA Group has advised that it will write down the value of the Gliderol garage doors business by around $A25m in its 2014-15 accounts. GWA has agreed to sell the business to Reliance Doors for about $A7m, after buying it for $A42m in 2010. Meanwhile, GWA now anticipates that its trading EBIT for the financial year will be within the range of $A67m to $A69m, compared with earlier guidance of about $A70m.

CORPORATES
GWA GROUP LIMITED – ASX GWA, GLIDEROL ROLLER DOORS PTY LTD, RELIANCE DOORS PTY LTD, DUX HOT WATER, BRIVIS, CAROMA INDUSTRIES LIMITED, GAINSBOROUGH, FOWLER, HUNTER GREEN PTY LTD

Business fears a return to union chaos

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Original article by Ewin Hannan
The Australian Financial Review – Page: 3 : 4-Mar-15

Fair Work Building & Construction’s powers to take action over unlawful conduct by unions are slated to expire at the end of May 2015. The Australian Government faces resistance from the Opposition and the Australian Greens to extend these powers. Groups such as the Australian Industry Union and Master Builders Australia are concerned about the impact on the construction industry if the sunset clause introduced by the Australian Labor Party takes effect

CORPORATES
FAIR WORK BUILDING AND CONSTRUCTION, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, THE AUSTRALIAN INDUSTRY GROUP, MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION, AUSTRALIA. DEPT OF EMPLOYMENT, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, PALMER UNITED PARTY

Nest intentions: Aussies getting lazier when it comes to home improvement

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 15-Oct-14

A Roy Morgan Single Source survey has found that 30.5 per cent of Australians aged 14+ made minor repairs or alterations to their home in the year to June 2014. This compares with 33.4 per cent in the year to June 2010. The survey also shows that the number of Australians who painted something inside or outside their home has fallen from 22.5 per cent to 20.7 per cent over this period

CORPORATES
ROY MORGAN RESEARCH LIMITED

NBN connections soar in a year

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Original article by Mitchell Bingemann
The Australian – Page: 2 : 1-Jul-14

Greg Adcock, COO of NBN Co, has issued new and promising data on its progress in rolling out the Australian Government’s national broadband network. The number of premises connected to the cabling infrastructure has risen from 27,250 to 106,000 during 2013-14, while that of actual users is also up from 1,870 to now about 16,000. NBN Co and the main contractor, Ericsson, have a target of 450,000 connections by mid-2015. However Ericsson, which is being paid $A1.1bn, had suffered a series of setbacks

CORPORATES
NBN CO LIMITED, ERICSSON AUSTRALIA PTY LTD, TELEFON AB LM ERICSSON

Leighton slims down in $1.5b sell-off

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Original article by Jenny Wiggins, Sarah Thompson, Anthony Macdonald
The Australian Financial Review – Page: 1 & 8 : 13-Jun-14

Australian-listed construction group Leighton Holdings will undertake a restructuring that is expected to include asset sales. The John Holland construction business is one of the assets that could be sold, with expectations that it could fetch around $A1bn. Leighton’s services businesses could also be offloaded, while the future of its property assets are also believed to be under scrutiny. Leighton currently has five operating businesses, but these will be reduced to four as part of the restructure

CORPORATES
LEIGHTON HOLDINGS LIMITED – ASX LEI, JOHN HOLLAND PTY LTD, HOCHTIEF AG, DEVINE LIMITED – ASX DVN, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, MACQUARIE CAPITAL PTY LTD, CHEVRON CORPORATION, LEIGHTON CONTRACTORS PTY LTD, THIESS PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION