Strong building activity buoys CSR

Building products and aluminium group CSR has been buoyed by strong residential construction activity, announcing a 20 per cent increase in net profit after tax for the year to 31 March.

The company’s statutory NPAT of $271 million compares to the previous year’s $146 million, and includes $86 million in carry forward capital tax losses.

Revenue for the year was up nine percent to $2.3 billion driven by the building products division.

Strong detached housing building activity – which is expected to continue – saw building products record a record operating EBIT of $228 million, up 24 percent.

This result also reflects improved factory performance and operational execution and cost discipline across all businesses.

EBIT for the company’s aluminium division rose from $23 million in the previous year to $40 million reflecting higher prices and there was a strong contribution from property activities.

CSR CEO Julie Coates said: “The organisational change we have made streamlining the business over the last 18 months along with the initiatives aligned to our supply chain strategy have supported our ability to deliver for CSR’s customers against a challenging backdrop.”

Pictures: CSR

Subscribe to our free @AuManufacturing newsletter here.