Cement News tagged under: Adelaide Brighton

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Adelaide Brighton updates its forecast for 2019

31 July 2019, Published under Cement News

Australia’s Adelaide Brighton has issued a profit warning for the 2019 period, stating that its underlying profit is expected to fall around 37 per cent YoY to AUD120-130m (US$82.6-89.6m) from AUD190.1m. The company has cut its interim dividend, cancelled ingredient imports and booked an AUD100m impairment charge, resulting in its shares posting the steepest fall in 15 years, according to Reuters. The warning arrives as Australia’s construction sector continues to contract, with AIG Cons...

Adelaide Brighton issues profit warning for 2019

10 May 2019, Published under Cement News

Australia's Adelaide Brighton has warned that profits for 2019 could be 10-15 per cent lower than the AUD190.1m (US$133m) recorded in 2018, due to weaker demand in residential construction and high competition from imports. The company attributed the profit warning to "further softening of demand for construction materials in the residential market, increased competition from cement imports, increased competitive pressures in Queensland and higher costs of key raw materials compared to the...

Adelaide Brighton posts 1% fall in net profit in 2018

01 March 2019, Published under Cement News

Australian cement producer Adelaide Brighton posted a 1.4 per cent decline in net profit to AUD185.3m (US$131.5m) in 2018 as cement margins declined and slower growth in South Australia and Western Australia offset strong demand in New South Wales and Victoria. “East coast construction markets were strong in 2018, South Australia and the Northern Territory were flat and Western Australia was down, while lime demand from the resources sector was stable,” Adelaide Brighton’s CEO, Nick Miller...

Holcim Australia announces new CEO

06 February 2019, Published under Cement News

Following the commencement of Nick Miller’s duties as CEO of Adelaide Brighton last week, the company has announced the departure of George Agriogiannis, executive general manager of concrete and aggregates. Mr Agriogiannis will become chief executive of Holcim Australia on 11 March. The current CEO of Holcim Australia, Mark Campbell, will leave the company at the end of March. "I wish to announce that Mark Campbell has decided to leave Holcim Oceania to pursue his career outside the grou...

Adelaide Brighton announces new CEO

19 October 2018, Published under Cement News

Australia’s Adelaide Brighton has announced that Nick Miller will become the company’s new CEO after Martin Brydon leaves the company next year. Mr Miller is the CEO of Broadspectrum, an infrastructure and maintenance service group, and was the managing director of civil construction company Fulton Hogan between 2010-17. Mr Miller is expected to take up the position no later than 17 April 2019, according to Zlatko Todorcevski, chairman of Adelaide Brighton.

Adelaide Brighton records net profit increase in 1H18

22 August 2018, Published under Cement News

Australia's Adelaide Brighton has posted a 17.7 per cent YoY increase in net profit to AUD84.5m (US$62m) in the 1H18. Revenue saw a rise of 11.7 per cent to AUD807.2m, on the back of strong markets in New South Wales, Queensland and Victoria. "It's really pleasing to deliver record half-year financial results and dividends for our shareholders. Revenue, EBIT, net profit, cash flow and dividends were all first-half records," said Martin Brydon, CEO, Adelaide Brighton. The company expect...

Martin Brydon to step down as CEO of Adelaide Brighton

21 May 2018, Published under Cement News

Martin Brydon, CEO of Adelaide Brighton, has announced plans to retire later this year after four years in the position. Mr Brydon will stay with the company until a new chief executive is found, according to a statement made to the ASX. "It’s time and I’m very comfortable with my decision to move to retirement phase, which will be over a period of time – could be six months depending on how the search goes," said Mr Brydon. The formal search process to fill the position will begin immed...

Adelaide Brighton announces results for 2017

05 March 2018, Published under Cement News

Adelaide Brighton has announced its results for the full-year period, ended 31 December 2017. The company saw a 2.3 per cent YoY fall in net profit to AUD182m (US$141m), but revenue increased 11.7 per cent to finish at AUD1.56bn. The company received AUD17.7m of impairments, significantly higher than the anticipated AUD14m. As a result, the manufacturer has hired forensic accountants to examine whether an employee may have deliberately hidden customer underpayments for supplies over a sus...

Adelaide Brighton reports equipment issues

14 February 2018, Published under Cement News

Adelaide Brighton Cement has reported issues with manufacturing equipment at its Birkenhead plant. Large plumes of dust were spotted leaving the chimney of the facility last Sunday, according to Westside Weekly. "I could see the plume rising into the air and spreading over residential areas from 10km away," said Tony Bazeley, member of the Port Adelaide Residents Environment Protection Group. As a result, the company alerted the Environment Protection Agency (EPA). A spokeswoman for t...

Adelaide Brighton awards power contract to Infigen

28 November 2017, Published under Cement News

Australia’s Adelaide Brighton has awarded Infigen Energy’s Lake Bonney wind farm the contract to supply power to two cement plants north of Adelaide and a quarry on Yorke Peninsula. The deal is understood to extend over five years and involve a larger volume of power than the 88GWh transaction signed last week with Pacific Hydro by 14 firms, cities and municipal agency, reports the Australian Financial Review. The Adelaide Brighton deal will involve supply from Infigen's existing port...