Boral suffers from housing slowdown

Building products company Boral acknowledged that the housing slowdown resulted in sales for the September 2004 quarter that were below expectations. Boral managing director Rod Pearse said there were clear signs of softening activity in residential construction, and that investment in commercial construction was not sufficient to offset the decline. Even so, Pearse said Boral was on track to record an improved profit in the year to June 2005.