Adelaide Brighton Ltd is an Australian based manufacturer and distributor of cement, lime, premixed concrete and concrete masonry, servicing the engineering, infrastructure and resource sectors. It is a market leader in the production and marketing of cement and lime products in South Australia, Western Australia, and the Northern Territory through its Adelaide Brighton Cement, Cockburn Cement and Northern Cement operations, as well as in concrete masonry products, through its brand, Adbri Masonry. Its other principal products include clinker and premixed concrete and aggregates, through Hy-Tec and a 50% joint venture with Mawson Group
In FY13, ABC reported a 3.8% increase in revenue to $1.23bn, and a 1% decrease in net income to $151m. Excluding a one-off in the previous corresponding period, net income increased 3.9% versus FY12. Operating income increased marginally to a record $223m.
Record revenue was supported by continued demand from projects in South Australia, the resources sector in Western Australia and the Northern Territory, and a residential recovery in New South Wales. Demand in Queensland improved further in the second half of the year. These markets offset lower demand in Victoria. Demand from residential building generally improved in major markets in the second half of the year, while activity in the non-residential building sector remained subdued.
The balance sheet improved further during the period, with net debt to equity decreasing to 23%. Cash flow from operations was sound at $227m, up 22% on the previous corresponding period.
ABC declared a final dividend of 9 cents per share and a special dividend of 3 cents per share, both fully franked. This was up from 9 cents per share in the previous corresponding period.
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