Building products maker Boral has cut its full year profit forecast for the second time within three months because of bad weather and delays to major construction projects.

Boral on Wednesday said it now expected net profit for the year to June 30, before one-off items, to be between $100 million and $110 million.

It had originally forecast a full year net profit of $150 million to $175 million but downgraded that guidance by $22 million in April.

“A number of recent events have come together to weaken Boral’s trading performance in the fourth quarter which add to the impact of ongoing weakness in the Australian new housing construction market,” recently appointed interim chief executive Ross Batstone said in a statement.

The new profit forecast assumes two property sales worth between $20 million and $24 million are finalised before June 30.

Boral’s fourth quarter performance had been impacted by bad weather in June, delays to major resource sector and road projects, weaker property sales, and continued weakness in residential construction, the company said.

Mr Batstone said Boral had tightened its expenditure as a result.

Total spending in the year to June is expected to be at the lower end of the $400 million to $450 million guidance range provided after the first half of the financial year, he said.

Boral also expected to not need to raise additional funds through the issue of new shares in the short or medium term, he said.

“Boral continues to operate comfortably within its banking covenants,” Mr Batstone said.

Boral shares were down 18 cents, or 5.6 per cent, at $3.01 at 1025 AEST.