For full year ending March 2017, CSR reported a revenue growth of 7% year on year (yoy) to $2.47 billion while posting net profit growth of 25% yoy at $177.9 million.
For full year ending March 2017, CSR reported a revenue growth of 7% year on year (yoy) to $2.47 billion while posting net profit growth of 25% yoy at $177.9 million. Net profit growth was driven by a substantial increase in earnings from building products as it reported a record EBIT of 21% yoy at $202.8 million, led by the robust market for residential housing on the east coast of Australia. However, Aluminum segment reported EBIT fall of about 11% to $93.1 million led by 4% yoy decline in realizations and subdued volumes growth of 1% yoy. The growth in earnings led to a 5% yoy increase in operating cash flow to $264.8 million and an 11% increase in the full-year dividend to 26.0 cents per share. The company’s 81% of net aluminium sales hedged at an average price of A$2,373 per ton (before premiums) for the year ending March 2018, and company expects that earnings will be supported by steady demand from detached housing and high-rise construction on the east coast coupled with improvement in Viridian’s earnings due to restructuring initiatives.
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