AdBri sees 95% surge in profit for the 1H21

Australia’s AdBri has posted a net profit after tax of AUD56.6m (US$41m) in the first half of 2021, up 94.5 per cent on the year-ago period. Revenue also advanced 7.4 per cent YoY to AUD752.3m from AUD700.7m, as demand for construction materials increased.

"Adbri delivered a robust first half financial performance for 2021 recording solid growth in revenue and profits with improving margins as demand for construction materials rebounded, supported by increased residential housing activity and infrastructure spending," said Nick Miller, CEO.

Overall cement and clinker sales volumes increased 10.6 per cent, supported by higher demand in east coast markets, the recommencement of cement supply to a key customer in south Australia and stronger mining volumes.

The company also announced its aim to be at a net zero level of carbon emissions by 2050.