Australia: Adelaide Brighton has reported that its net profit rose by 20% to US$150m in 2015 from US$124min 2014. Its revenue grew by 5.6% to US$1.02bn from US$964m. The construction materials company attributed the growth to ‘healthy’ residential construction in east coast markets.
“Cement and clinker sales volumes increased marginally in 2015. Strong demand in New South Wales, Victoria and south east Queensland, was primarily driven by residential construction. This demand more than offset the previously anticipated reduced sales to a major South Australian customer and lower sales to resource projects in Western Australia and the Northern Territory,” said the company in a statement.
It added that import volumes continued to grow in 2015 as Adelaide Brighton used imports to meet domestic demand, whist reducing local manufacturing capacity in Western Australia. The company made savings of US$7.2m in 2015 by stopping clinker production at its Munster plant.