Business
Construction materials company Adelaide Brighton Limited is withdrawing its earnings guidance for 2020, citing the uncertainty in relation to the duration and impact of COVID-19.
Business
Adelaide Brighton Limited has blamed increased competition and soft demand for construction materials on Australia’s eastern seaboard for a significant fall in profits for the 2019 calendar year.
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SA-based construction materials company Adelaide Brighton Ltd has reported reduced sales and a net loss after tax, telling investors a recovery in residential construction is more than a year away.
SA-based cement manufacturer Adelaide Brighton has flagged weaker annual earnings and scrapped its interim dividend, blaming lower demand for its products on a slowdown in housing and civil construction.
Adelaide Brighton chief executive Martin Brydon has signalled his intention to retire after 30 years with the building materials supplier.
Adelaide Brighton’s half-year profit has slipped 2.3 per cent to $182 million after the cement and masonry supplier took a $17.7 million earnings hit from the discovery it had been underpaid for some supplies.
