Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Australia's Adelaide Brighton annual profit falls on debt charges

Published 28/02/2018, 09:06 am
© Reuters.  Australia's Adelaide Brighton annual profit falls on debt charges
ABC
-

Feb 28 (Reuters) - Australian cement producer Adelaide Brighton Ltd ABC.AX on Wednesday posted record annual revenue, but said net profit fell 2.3 percent due to a number of one-time expenses, chiefly related to debt charges.

Net profit for the year to Dec. 31 fell to A$182 million ($141.65 million) from A$186.3 million a year ago. Excluding property earnings, underlying profit after tax was A$189.3 million, compared with the company's guidance for between A$188 million and A$198 million.

The company said in November it may make a provision for debts the company said it was unlikely to be able to collect after it identified a small number of customers which may have underpaid for products supplied to them.

The company said it would pay a final ordinary dividend of 12 Australian cents per share, compared with 11.5 Australian cents a year ago. It also declared a special dividend of 4 Australian cents per share.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.