Australia: Adelaide Brighton: FY net expected lower

Australia: Adelaide Brighton: FY net expected lower
Published: 23 October 2008

Adelaide Brighton Ltd Thursday said net profit for the year to December 31 will be towards the lower end of its guidance between A$120m and A$126m.

The building products group said cement demand is expected to grow by 5%-8% in 2008 with September cement volumes still robust in all markets.

In a presentation to the UBS emerging companies conference, Adelaide Brighton said further weakness of the Australian dollar is likely to impact earnings before interest and tax by circa A$3m-A$4m in fourth quarter 2008 due to increased cost of imports.