ASX-listed building products giant CSR will resume paying a dividend to shareholders despite a 15 per cent fall in its first half profit to $58.7 million
CSR chairman John Gillam says the Commonwealth's $688 million Homebuilder program won't be enough to boost housing affordability and jobs.
The ASX-listed building products giant has ditched its payout to shareholders and its CEO and other senior executives have forfeited short-term bonuses.
Building materials company James Hardie has lifted its profit forecast for the 2020 financial year despite headwinds in housing markets in Australia and America.
A projected fall in Boral's first-half earnings has been attributed to weakness in the local housing market.
Traders rolled out of the financial sector and into materials on Monday,as Westpac remained in a trading halt ahead of a $2.5 billion capital raising.
The Australian share market shook off negative leads and a dragging banking sector to close higher on Friday.
The slowdown in residential construction across Australia has hit the earnings of building materials producer CSR.
Building products supplier Adelaide Brighton has revised down its guidance nearly 30 per cent.
Australian manufacturers are paying"as much for gas as our Asian neighbours"which have no local gas reserves,says the head of building products group CSR.
The former Big W boss and currently head of food manufacturer Goodman Fielder will take the reins at CSR in September,replacing the retiring Rob Sindel.