Industrials Stocks News: CSR

Industrials Stocks News: CSR|ASX CSR|CSR Shares|Industrial SharesCSR is a leading building products company with operations throughout Australia and New Zealand.

It has been one of the shares to sell over the past year, with the business suffering from slowing housing activity, a strong AUD and weak consumer confidence.

Today, CSR said it expects 1H11 EBIT to slump 15% – 23% on-year to between $90 million and $100 million.

The group restructured its glass business, Viridian, due to a worsening operating environment.  The division is likely to report an underlying an underlying pre-tax and interest loss of $6 – $8 million.

CSR’s underlying profit is expected to rise 10% from the prior corresponding period’s $44.4 million, reflecting lower interest costs and a healthier balance sheet.

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