Building products maker CSR Ltd
(ASX:CSR) says construction activity remains weak and the sustainability of longer term housing starts remains unclear.
CSR says it maintains an estimate of 146,000 housing commencements per quarter to March 31, 2011.
CEO Jeremy Sutcliffe says it is difficult to predict full year earnings with accuracy.
Mr Sutcliffe says commodity prices, including aluminium, continue to fluctuate which CSR attempts to mitigate through hedging of the physical commodity and currency where commercially practicable.
On Monday the company announced that it had agreed to sell its sugar and renewable energy business, Sucrogen, to Singapore based Wilmar International for $1.75 billion.
Mr Sutcliffe says the sale price is extremely attractive and delivers significant value to shareholders.
The company says the sale allows it to focus on its building products businesses in Australia and New Zealand.
CSR reported a loss of $111.7 million for the year to March 30, 2010.
