Feb 23 (Reuters) - Adelaide Brighton Ltd (ABC)
- Fy revenue from continuing operations down 1.2% to a$1,396.2 million
- Final ordinary dividend of 11.5 cents per share
- Fy net profit for period attributable to members down 10.4% to $186.3 million
- Final special dividend of 4.0 cents per share
- Company has agreed to purchase a Melbourne, Victoria, concrete and quarry business which is expected to complete in March 2017
- "Pre-mixed concrete and aggregates acquisitions in 2014 and 2015 in south australia and queensland are exceeding earnings expectations with a positive outlook"
- "Proceeds from property sales could be $10 - $15 million over next two years"
- Acquisitionprice of approximately $61 million
- "Group's ongoing tax rate is expected be in range of 27% to 28%."
- "2017 is expected to see strong demand for most products particularly on east coast, improved pricing and further efficiency improvements"
- "2017 sales volumes of cement and clinker is expected to be higher than 2016"
- Acquisition is expected to be earnings accretive in 2017
- Expected that demand in western australia and northern territory will stabilise in 2017
- "Lime sales volumes are expected to be higher in 2017"
- "Margin increases are expected in 2017 however, threat of small scale lime imports in western australia and northern territory remains"
- "Proceeds from property sales could be $10 - $15 million over next two years"
