Business
Construction materials company and lime producer Adbri has reported a net profit after tax of $93.7 million for the 2020 calendar year – almost double its 2019 profit.
Local
The developers behind the West Franklin project have abandoned plans to build on top of the old Balfours site on Morphett Street, and will instead seek to demolish part of the building for public space beside a 16-storey residential development proposed for the neighbouring site.
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The housing construction sector risks millions in lost work if it cannot scramble to make up for lost time following the six-day lockdown that has brought building sites and heavy industry to a standstill for one of the first times in the state’s history.
A 33-storey apartment building is being considered for Grote Street, replacing the former home of small bar and performance space La Boheme.
Construction materials company Adbri – formerly known as Adelaide Brighton – has posted a net profit after tax of $29.1 million for the first half of 2020, despite declining cement revenues amid a construction downturn.
The Federal Government is offering $25,000 grants to people who sign contracts to build or substantially renovate their home, under a $688 million HomeBuilder scheme to keep the construction industry afloat.
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.
