Cement News tagged under: Adelaide Brighton

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Adelaide Brighton flags potential profit hit

14 March 2014, Published under Cement News

Adelaide Brighton Ltd has cautioned that potential changes to a South Australian cement supply deal could result in a AUD15m profit hit. The company has warned one of its customers has proposed constructing facilities in Adelaide which would allow it to supply its own cement in the state.   Adelaide Brighton says the customer now buys about 120,000t of cement in SA. If the company were to lose the volume from 1 January 2016 Adelaide Brighton expects its profit before tax in 2016 could ...

Adelaide Brighton CEO to retire, Australia

18 December 2013, Published under Cement News

Mark Chellew, managing director and CEO of Adelaide Brighton, is to retire following the company's AGM in May 2014 and be replaced by Martin Brydon, Adelaide Brighton’s current executive general manager Cement and Lime division. Chairman, Mr Les Hosking, paid tribute to Mr. Chellew, saying: "Over nearly 13 years in charge of Adelaide Brighton, Mark has been one of the most successful ASX listed company Chief Executives and generated significant value for our shareholders. “This is reflecte...

Australia: Adelaide Brighton achieves higher profit

22 August 2013, Published under Cement News

While sales volumes for the full year to December at Adelaide Brighton are expected to be similar to 2012, the company is making headway on revenue earnings. It reported a 4.5 per cent increase in revenue to a record half-year result of AUD579.3m (US$520.7m) and a 2.9 per cent increase in underlying net profit after tax to AUD60.9m for the half year ended June. A a number of projects are expected to offset a continuing weak trend in residential and non-residential building demand, which wi...

Adelaide Brighton posts modest rise in net profit, Australia

22 February 2013, Published under Cement News

Australian building materials producer Adelaide Brighton has posted a 3.8 per cent rise in net profit as mining and resources projects in certain regions offset weakness in residential and commercial construction. In the 12 months to 31 December, the company recorded a net profit of AUD154.1m from AUD148.4m the year before, driven by mining and resource projects in South and Western Australia and the Northern Territory.  A weak residential market in Victoria hit cement sales while depr...

Adelaide Brighton signs agreements with Japanese suppliers

04 December 2012, Published under Cement News

Adelaide Brighton has entered into two clinker import supply agreements with Japanese suppliers. These agreements secure a significant part of this requirement from the Japanese suppliers, with terms of seven and 10 years. The contracts represent the continuation of existing strong relationships and a diversified supply base, while at the same time reducing exposure to fluctuations in the exchange rate. Adelaide Brighton's imports of cementitious products, including grey and white clinker...

Adelaide Brighton full year earnings on track, Australia

04 October 2012, Published under Cement News

Adelaide Brighton has confirmed it is on track to meet its 2011-12 earnings guidance, underpinned by its exposure to the resource and infrastructure sectors. Speaking to the Australian Financial Review, Adelaide Brighton managing director Mark Chellew said the group’s 2012 financial year net profit guidance was between A145m-155m. Although the group has been hit by a slowdown in the residential sector, it has reviewed its resources-based cement exposure and was not expecting any fall in ce...

Australia: market uncertainties ahead

03 September 2012, Published under Cement News

Challenging market conditions persist for Australia's cement sector due to weak residential and commercial activity combined with the potential impact of a new carbon tax which became effective last month.   Last year saw a decline in housing starts as rising interest rates coincided with the end of stimulus packages. In November 2011, the Reserve Bank cut interest rates by 25bp to spur the market into recovery although it was unable to stop further declines in financing approvals. Latest da...

Australia: construction downturn has cement maker reduce profit expectations

20 August 2012, Published under Cement News

AdBri reduced its market expectations at its full-year results presentation on Thursday, after worse than expected construction activity in the residential and non-residential sectors. Poor building conditions are driving a steady stream of companies in the construction sector to the wall. The trend is alarming industry groups and causing major companies such as cement maker Adelaide Brighton (AdBri) to lower their profit expectations. AdBri managing director Mark Chellew said building ...

Adelaide Brighton sees improved outlook, Australia

17 August 2012, Published under Cement News

Australian building materials producer Adelaide Brighton has lifted its first-half net profit by nearly 10 per cent and indicated a modest rise in annual earnings. Net profit rose in the six months to 30 June to A$67.5m (US$70.5m) from A$61.4m in the previous corresponding period. Revenue rose 8.3 per cent to A$550.3m from A$507.9m. Mark Chellew, managing director, said the company’s annual net profit could rise by as much as 4.4 per cent depending on the timing of cement sales and if ...

Adelaide Brighton forecasts slight rise in sales, Australia

17 May 2012, Published under Cement News

Australia-based Adelaide Brighton expects a slight improvement in sales as market challenges continue. Managing director Mark Chellew said sales of the cement products would be marginally higher in 2012 than in 2011 Demand was robust in South Australia and Western Australia due to infrastructure and mining projects, but the timing of sales to those projects would influence the company's 2012 performance, he said Adelaide Brighton made a net profit of A$148.4m in calendar 2011.