Building products manufacturer Boral has been dented by the continued weak performance of its Western Australian operations, reporting lower underlying earnings and a $20 million asset impairment for its WA bricks business.
The ASX-listed company said the WA bricks business, which trades as Midland Brick, suffered a 26 per cent fall in volume and a five per cent fall in prices during the year to June 2017.
Restructuring of the operation resulted in a reduction of 52 positions.
That followed a similar number of job cuts in the 2016 financial year.
Boral said the WA bricks business achieved break-even earnings before interest and tax (EBIT) in the year to June 2017, down from a $9 million EBIT in the previous year.
Details of the $20.4 million …
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