Adbri downbeat on prospects
Construction Materials Supplier Adelaide Brighton has delivered its 2019 results largely in line with market expectations but flagged concerns for the near term. Revenues were down 7% year on year to $1.52Bn on the back of weak construction activity in residential and non-residential building. CEO Nick Miller noted that around 30% of revenues were exposed to this sector and flagged a push to increase penetration in the infrastructure market.
With the full impact of the coronavirus on construction supply chains still a relative unknown, all eyes will be on the first quarter of 2020.