Manufacturing News

CSR first-half profit up

Building products maker CSR lifted its net profit in the first half by 48 per cent compared to the same period last year.

As AAP reports, the company posted a first half net profit of $68.4 million this year, compared to $46.1m last year.

The result was significantly higher than expectations and CSR said it expects to post a full year net profit towards the upper end of the forecast range of between $111 million and $134 million.

According to the Business Spectator, the company’s first half revenue from ordinary activities was $1.005b. This compared with $877.1m last year.

Last month, The Australian Competition and Consumer Commission (ACCC) raised concerns about the proposed $230m clay brick joint venture between CSR and Boral.

The ACCC released a Statement of Issues which said it wants further information to determine whether the venture would result in a reduction of competition in the clay brick market.

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