CSR full-year profit up, low dollar boosts aluminium

CSR has announced a net profit of $125.3 million for the year ended March 31, though will not pay a final dividend due to the difficult economic environment.

Annual profit was up from $78 million the corresponding period, which included impairment charges from the sale of the Viridian glass division, sold to Crescent Capital Partners.

Revenue for the year was down 6 per cent, “ahead of the weakness in the residential building market which was down on average 21 [per cent]” said chairman John Gillam.

The weaker Australian dollar provided a boost for aluminium products, which earned $59.6 million, compared to $36.6 million the previous year.

Picture: AAP