Australia: Adelaide Brighton's revenue for 2013 has risen by 3.8% year-on-year to US$1.1bn. Its net profit fell by 1.2% to US$136m but excluding a one-off gain in 2012 its net profit rose by 3.9%. Adelaide Brighton said that it was starting to see returns from its capital expenditure (capex) programme in cement and lime and, given subdued volume growth in 2012, the company was yet to realise the full extent of the investment.

"Modest growth in underlying net profit on healthy sales is encouraging given that we are yet to see the full benefit to revenue and margins of our major capex programme and the recovery of residential demand has only just begun," said managing director Mark Chellew. "Adelaide Brighton's cement and lime exposure to resources and infrastructure again supported shareholder returns despite commercial and residential building activity being weak for much of the year."

The Australia-based construction materials company expects demand for cement and lime in 2014 to be similar to 2013. It also expects to consolidate returns from its cement mill upgrade at Birkenhead in South Australia to be consolidated in 2013. Chellew added that if the Australian carbon tax is removed by 1 July 2014 it could save the company an after tax benefit of US$1.8m compared to 2013.