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.
Australia’s construction sector ended 2019 on a low note with deteriorating activity, new orders and supplier deliveries pushing a key industry index to its lowest mark since May 2013.