Tag: CSR

A more confident outlook about the housing and apartment constriction sector saw a major change in policy from CSR yesterday. Shares in CSR bounced nearly 6% yesterday after the building products group revealed that it will resume paying dividends to shareholders.

CSR has shown only a modest impact from the pandemic and housing downturn so far, but caution is urged as the outlook is far from clear.

Building products group, CSR has dropped its final dividend, and its chief executive and other senior leaders have forfeited their short term bonuses to preserve cash in the business.

No wonder CSR chairman, John Gillam was waxing lyrical about rising electricity and gas costs and the dangers they pose to Australian manufacturing at yesterday’s annual meeting of the building products maker.

Building and construction products group, CSR has looked outside the company for its new CEO to replace Rob Sindel who departs later this year.

The building sector boom is well and truly over, judging by the full 2018-19 results from CSR Ltd yesterday.

CSR has finally found a buyer for its underperforming Viridian Glass business in the shape of local private equity group, Crescent Capital Partners for a total cash consideration of around $155 million, which could top $200 million once all property associated with the group is sold next year.

Building materials manufacturer CSR has confirmed media reports from last week that it is looking at selling its weakly performing Viridian glass business.

Investors marked down CSR shares yesterday despite the building products reporting what seems to have been a solid 2017-18 result, and a small rise in final and annual dividend.

Shares in CSR were solid off yesterday after investors went off the interim result and strong hints of profit pressures in the next year.

Shares in building materials group, CSR have tumbled in the wake of comments by the company that the home building market may have peaked.

Shares in building materials supplier CSR jumped to near four month highs yesterday after it confirmed that it was still riding the building boom.

The building and constriction boom remained alive for CSR Limited in the year to March 31, but the impact is fading as approvals soften and demand for new residences start to slow.

CSR shares soared, then eased yesterday after the company released solid half year figures which belied the weakening outlook for home building activity as building approvals and house prices lose ground.

Shareholders in building products group CSR were told yesterday that the company remains positive about the coming year and again expects to benefit from the home building and apartment construction booms.

Building products group CSR has confirmed the solid rebound reported in its in interim profit late last year in reporting an 82% jump in underlying full-year profit yesterday to $146.5 million, thanks to the surge in new home construction which boosted sales of bricks, glass and other products.

The building industry boom continues to lift revenues and earnings for a growing range of companies including Boral, Brickworks, Stockland, Mirvac and, yesterday, CSR which revealed a 48% jump in half year profit to $68.4 million.

No wonder CSR is upbeat on the outlook for the property and home construction sectors – the rebound engineered by the record low interest rates from the Reserve Bank have stimulated demand for the company’s key products, enabling it to emerge well placed from the weak trading conditions of the two to three previous years.

Investors gave the CSR result the big thumbs down yesterday, despite the company reporting a more than doubling in net profit to $70 million dollars for the year to March 31.

Good news from two leading building industry players today, DuluxGroup (DLX) and CSR, with both companies providing upbeat outlooks for 2014.