Infrastructure Outlook Remains Positive for Adelaide Brighton Despite Cautious 2019 Guidance
Narrow-moat Adelaide Brighton’s delivery of full-year 2018 net income of AUD 191 million was no surprise to the market. But cautious guidance and an underwhelming 2018 final dividend led investors to question whether the substantial pipeline of Australian infrastructure projects can offset declining demand from residential construction. Adelaide Brighton is guiding to flat volumes across cement, concrete, and aggregates in 2019. While the market reacted negatively, guidance largely tracks our ex...Adelaide Brighton is an integrated construction materials and industrial lime producer which supplies a range of products into building, construction, infrastructure and mineral processing markets throughout Australia. Co.'s principal activities include the production, importation, distribution and marketing of clinker, cement, industrial lime, premixed concrete, construction aggregates and concrete products. In addition to domestic production, Co. is the importer of cement, clinker and slag into Australia.
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