Bangkok--5 Sep--Milan Crosse Creative Boral Limited, the parent company of Boral Thailand concrete and quarries, has announced a profit after tax (PAT) of $298 million for the year ended 30 June 2007, an 18% or $64 million decrease on the PAT for the year ended 30 June 2006. Strong and improved profits from Boral’s Australian construction materials were offset by a significant decline in US housing-related earnings as well as reduced earnings from Australian building products due to continued weakness in Australian dwelling activity. Sales revenue of $4.9 billion was up 3% due to price strength, stronger construction materials volumes and growth initiatives. Earnings before interest, tax, depreciation and amortization (EBITDA) of $762 million were down $61 million because of a volume-driven $90 million decline in EBITDA from Boral’s US operations. Earnings per share for the year were 50.0 cents. Commenting on Boral’s outlook, Boral’s CEO & Managing Diector, Rod Pearse said, “In 2007/08 we expect Australian dwelling commencements to be around 145,000-150,000 starts compared to the estimated 149,000 starts in 2006/07. This is well below underlying demand levels of around 170,000 starts. Building Products results are expected to soften as result of the weakness in dwelling volumes. “We expect earnings from our construction materials businesses in Australia to continue to improve as a result of an anticipated increase in non-dwelling and infrastructure activity in 2007/08 and the continued flow through of concrete and quarry price increases that were implemented effective 1 April 2007.” “We anticipate that Quarry End Use earnings in 2007/08 will be around $50 million which will again be weighted heavily to the second half of the year.” “In the USA, forecasters currently expect housing starts to be around 1.4 to 1.5 million starts in the 2007/08 financial year, which equates to around a 3% to 10% decline year on year; this will reduce brick and roof tile sales and production volumes and earnings compared to 2006/07 levels. Our recently announced construction materials acquisitions in Oklahoma City will positively impact US EBITDA by around US$12 million.” “In Asia, we expect growth despite competitive market conditions for the remainder of 2007/08.” “Growth initiatives will progressively deliver improved benefits particularly as markets recover and operating cost improvements from performance enhancement programs of around 3% have been targeted,” said Mr. Pearse.About Boral in Thailand Boral Thailand Concrete & Quarries operates 45 ready-mixed concrete plants and 5 quarries in Thailand. It is the second largest supplier of ready mixed concrete with a national coverage, and operates Thailand’s largest fleet of 500 company owned delivery vehicles. Boral is operating a business established in Thailand for nearly 15 years. It is a part of Boral Ltd, Australia’s leading building and construction materials supplier. Boral operates businesses in 8 Asian countries, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Korea, China, and Thailand, as well as in Australia and United States. For more information, please contact; Kamonchanok Kiattisirikumpol (Kay) Public Relations Milan Crosse Creative Ltd. Tel: 0-2261-1670-2 #102 Fax: 0-2261-1673 E-mail: [email protected]