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Adelaide Brighton reports record year for cement and lime business

World Cement,

Adelaide Brighton Limited, an Australian producer of cement and lime, has announced a 3.9% increase in net profit after tax for 2012. Profits reached AU$154.2 million in 2012 – a record number – up from AU$148.4 million in 2011. The company’s Managing Director Mark Chellew, says: “While net profit increased only modestly in 2012, we see this as a good result considering the challenges facing the industry...Strength in the lime business, which enjoyed sales volume growth of more than 5 per cent, supported by demand from alumina and gold producers, validates our focus on this business over the last decade as a key driver of shareholder value.”

Rising production costs and the increased value of the Australian dollar have impacted the company’s results, however. Adelaide Brighton reported revenue was up 6.9% but profits were restricted to growth of 3.9%. However, the company is optimistic that its association with the resource sector will continue to have positive results for the company while Australia’s residential construction market continues to be weak. Adelaide Brighton is expecting sales volumes this year to experience slight growth, again on the back of demand from the resource sector.

In December, the company announced that it would acquire a 30% stake in Aalborg Portland Malaysia Sdn. Bhd., a white cement plant located in Ipoh, about 160 km north of Kuala Lumpur. In addition to the stake sale, the two companies negotiated a 10-year supply agreement, and Adelaide Brighton has secured two further supply deals with Japanese suppliers.

Edited from various sources by Katherine Guenioui.

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