Adbri (ASX:ABC) lifts revenue & profit

Company News

by Lauren Evans

Construction materials and lime producer Adbri (ASX:ABC) reported its results for the full year ending 31 December.

The company’s reported net profit after tax rose 25 per cent to $116.7 million, while underlying net profit after tax lifted 3 per cent to $119.1 million. Its revenue increased by 8 per cent to $1,569.2 million, driven by growth in all products except lime.

Adbri said strong sales demand was experienced across all sectors including residential, commercial, infrastructure, and mining.

“We have delivered a robust financial result in 2021, reflecting our geographic and sector diversity and our team’s disciplined focus on supporting our customers and executing our strategy. The result is particularly pleasing in the context of significant Covid related challenges and disruption during the year,” said chief executive officer Nick Miller.

“Mining and construction demand remain buoyant while the construction materials sector is benefiting from a strong pipeline of infrastructure projects and residential construction approvals.”

The company declared a final dividend of 7 cents per share.

Shares in Adbri (ASX:ABC) are trading 11.6 per cent higher at $3.36. 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.