CSR Limited (ASX:CSR)
has reported a rise in full year net profit (before significant items), to $166.0 million or 13% higher than a year earlier and its best result since the divestment of the Sugar business in 2010.
Earnings before interest and tax (EBIT before significant items) of $276.8 million were up 18%. The result included the consolidated earnings of the PGH Bricks JV (60% owned by CSR) which began operations on 1 May 2015.
The growth in earnings led to an 8% increase in operating cash flow to $252.2 million and an 18% increase in the full year dividend to 23.5 cents per share.
CSR Managing Director Rob Sindel commenting on the results said the Building Products business has performed strongly, supported by solid underlying activity. Building Products earnings have grown consistently over the past few years as we strengthened existing businesses and diversified into new product categories and market segments.
CSR recorded a net profit of $166.0 million for the year ended 31 March 2016 .