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Australia's Boral flags $967 million impairment charge

Credit: REUTERS/DAVID GRAY

Australia's Boral Ltd said on Monday it would book an impairment charge of A$1.35 billion ($967.14 million) for fiscal 2020, related to assets within its North America division and its investment in the Meridian Brick joint venture.

Aug 24 (Reuters) - Australia's Boral Ltd BLD.AX said on Monday it would book an impairment charge of A$1.35 billion ($967.14 million) for fiscal 2020, related to assets within its North America division and its investment in the Meridian Brick joint venture.

The country's largest building materials supplier said it scrapped its final dividend and expected net profit after tax but before significant items to be around A$175 million to A$180 million for the year ended June 30.

($1 = 1.3959 Australian dollars)

(Reporting by A K Pranav in Bengaluru; Editing by Peter Cooney)

((Pranav.AK@thomsonreuters.com; Twitter: @AKPranav1; +918061823270;))

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