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ABC - Adbri News Story

A$3.14 -0.1  -2.5%

Last Trade - 6:10am

Basic Materials
Mid Cap
Market Cap £1.13bn
Enterprise Value £1.41bn
Revenue £813.3m
Position in Universe 211th / 1953

BUZZ-Australia's Adbri sinks as bleak outlook clouds strong results

Wed 25th August, 2021 4:30am
** Shares of construction materials producer Adbri Ltd
 ABC.AX  fall as much as 8.5% to A$3.34, marking their biggest
intraday pct drop since July 2020
    ** Co says
 current HY earnings will be hit by a reduction of lime volumes
to U.S.-based aluminium producer Alcoa Corp  AA.N  and expected
opening of a competing cement import terminal in New South Wales
    ** COVID-19 to limit construction activity, increase costs -
    ** Flags a rise in 2H21 capital expenditure due to
investment in Kwinana cement project and shipping vessel
    ** H1 net profit attributable almost doubles to A$56.6 mln
($40.98 mln)
    ** ABC stock third-biggest percentage loser on the S&P/ASX
200 benchmark index  .AXJO  
    ** Hits lowest since July 20; about 3.6 mln shares change
hands, vs the 30-day average of 1.1 mln shares 
    ** ABC up 9% this year, as of Tuesday's close

($1 = 1.3812 Australian dollars)

 (Reporting by Harshita Swaminathan)
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