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Article: AUST CO ADELAIDE BRIGHTON CONFIRMS GUIDANCE ON 8% PROFIT DROP.
- Article from:
- AsiaPulse News
- Article date:
- August 20, 2009
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SYDNEY, Aug 20 Asia Pulse - Australian construction materials group Adelaide Brighton Ltd (ASX:ABC) has reconfirmed its annual guidance after an eight per cent drop in first half net profit on lower demand for its cement, concrete and masonry products.
Adelaide Brighton's net profit was A$43.9 million (US$36.4 million) for the half year ended 30 June 2009, down from A$47.7 million in the first half of calendar 2008.
Chief executive March Chellew said first half earnings were lower on a decline in demand for the core cement, concrete and masonry products markets.
"The company projects a circa 15 per cent decrease in demand for its cement in 2009 ...