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.