Adelaide Brighton returns to profit in the 1H20

Australia’s Adelaide Brighton has posted a net profit after tax of AUD29.1m (US$20.95m) in the first half of 2020, compared with a net loss of AUD17.9m in the year-ago period. The company’s revenue declined seven per cent YoY to AUD700.7m.

The company has reported that COVID-19 left operations largely uninterrupted, while the mining sector and the company’s increased exposure to the infrastructure market supported sales.

However, overall cement sales decreased six per cent, although volumes increased by seven per cent in west Australia due to strong mining activity, while concrete sales fell 13 per cent YoY.