Adbri Cements Solid Result
Adelaide based cement maker, Adbri doubled its full-year profit to $93.7 million but slashed dividends as it plans a heavy spending year ahead.
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We are one of Australia’s pioneering construction materials and industrial mineral manufacturing companies, with many Australians knowing us formerly as Adelaide Brighton.
We are agile and always ready to partner with our customers and communities to make sure we create a better way of life.
We’re known for delivering high performance products on time, every time. We provide cement, lime, concrete, aggregates, concrete products and industrial minerals that last the test of time.
Our people have a can-do and nimble approach that has helped us innovate and grow to become a highly valued, proud Australian ASX listed leader that supports local economies and communities.
With 17 respected brands within the Adbri portfolio, we have a product range, scale and footprint across Australia to be always ready for the next challenge.
Adelaide based cement maker, Adbri doubled its full-year profit to $93.7 million but slashed dividends as it plans a heavy spending year ahead.
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Despite the prevalence of bad news stories and a sea of red across stock screens, Perpetual's Anthony Aboud argues it’s not all bad news.
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Cement and concrete group, Adelaide Brighton has confirmed its mid-year downgrade to revenue and earnings and sliced dividend for 2019, and warned of a 10% slide in earnings this financial year (which ends on December 31).
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The ACCC has cleared the completed creeping acquisition of a 43% stake in Adelaide Brighton (ABC) by Barro Group and its related entities.
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Like Caltex’s big earnings fall reported on Tuesday, the half-year earnings report yesterday from Adelaide and Brighton (AdBri) and its loss had been well telegraphed by earlier trading and earnings downgrades.
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The Neutral rating is retained as well as the target price of $3.25
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Morgan Stanley downgrades its rating for AdBri to Equal-weight from Overweight. The target price falls to $3.40 from $3.60
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Target price rises to $3.40 from $3. Neutral rating retained.
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Neutral rating retained. Price target $3.50. No changes made to forecasts.
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Adbri will invest $199m over FY21-23 to consolidate its WA cement production into a single state-of-the-art facility. Morgans lifts FY24 earnings (EBITDA) by $19m. Target price is $3.16.
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