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.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.