CSR Limited
(ASX:CSR) is celebrating a low Australian dollar, with the company’s chairman saying it’s been a year of the good, the bad and the ugly.
Speaking at the AGM, Jeremy Sutcliffe said the significant correction in the dollar was a positive for CSR.
He says it comes on the heels of a $196 million write-down against its glass unit along with the continued stagnant construction sector activity.
Mr Sutcliffe says that has been offset by an improvement in shareholder return marked by a share price rise and the fact that its building materials arm outperformed competitors.
Some analysts have recently upgraded their outlook for CSR, but the share price has been tied to the price of aluminium, given the group's exposure to production of the metal.
CSR posted a net loss of $136.4 million for fiscal 2013.
