CSR delivers 17 percent increase in profit

Building products group CSR has delivered strong profit and revenue growth in the financial year to 31 March.

The company announced net profit after tax of $225 million, up 17 percent on the previous corresponding period, on trading revenue up 13 percent to $2.6 billion.

The company’s building products segment earnings before interest and tax was up 20 percent to $72 million, aluminium dropped from $40 million to $8 million while its property group saw EBIT rise from $47 million to $72 million.

CSR Managing Director and CEO Julie Coates said: “In building products our teams delivered another great result by ensuring we optimised our factory operations and distribution channels to deliver for our customers, ensured pricing discipline across the business and continued to focus on cost management.”

The company’s Gyprock, Bradford Insulation (pictured) and Hebel brands increased revenue on ‘good execution’.

“Incremental investments in manufacturing are improving the productivity and variability of our cost base as well as our sustainability performance.”

Coates said CSR was well diversified across brands, market segments and the build process with a product portfolio that was adaptable to demand.

“Activity in the apartment market is improving as more projects have commenced this year, while non-residential activity remains strong, supported by a large pipeline of approvals.”

Picture: CSR/Bradform Insulation