CSR shares fall 10% despite a 25% FY profit increase

Company News

by David Chau

CSR Ltd (ASX:CSR) has released its full year results for the period ended 31 March 2017.

The company reported its full year statutory NPAT rose 25% to $177.9 million.  Its revenue from ordinary activities lifted 7% to $2.47 billion.

This was driven by a significant increase in earnings from its Building Products business, which CSR says delivered a record EBIT of $202.8 million, up 21%.

CSR declared a final dividend of 13 cents per share.

As for its outlook for the full-year ending next March, the company says overall earnings will be bolstered by higher Property division profits, and a significant increase in hedging of Aluminium to reduce future earnings volatility.

Following the release of these results, CSR shares are tracking 10.4% lower at $4.63.

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