Australia's Adbri hits 4-1/2-month high on strong annual results

Adbri

25/02/2022 24:40

** Shares of Adbri Ltd  ABC.AX  rise as much as 9.6% to
A$3.30, their highest since Oct. 11, 2021
    ** The construction minerals producer says annual net profit
attributable rose 25% from a year ago to A$116.7 mln ($83.60
mln)
    ** ABC posts annual revenue from continuing operations of
A$1.57 bln 
    ** Jefferies says cement, concrete and aggregate revenues
beat its expectations by 7% and increased by 12% from year
earlier
    ** Stock posts its biggest intraday pct gain since Jan. 17
    ** Stock up 6.7% this year, as of last close

($1 = 1.3959 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))