Expect further downgrades. Energy impacts called out by Boral now worse (x3), interest rate rises (tomorrow) and delays in Nsw govt projects to add more pain (not that Boral has been winning anything lately - no announcement on positive wins as well as Sydney Metro - western Sydney airport precast by WGN - who have to my knowledge no operations in Sydney). I expect underlying EBIT will be lucky to deliver its touted cost savings (lower end $60m). Look for BLD to take a bath. I believe Boral is heading to a share price if $2.00 or less, at which time SGH to look to pick up remaining 30%. BLD yo delist within 18 months - this will see SGH avoid the the embarrassment of having to admit that they have run the company into the ground. Sold my shares in time to avoid recent declines - thank goodness!
Best wishes to anyone still holding BLD shares.
BLD Price at posting:
$2.84 Sentiment: Sell Disclosure: Not Held
