AdBri posts record profit despite tough conditions ADELAIDE Brighton has shrugged off the impact of the weak housing sector to post a record net profit of $154.2 million. The cement and building products company's profit was 3.9 per cent higher than for the previous year on revenues of $1.18 billion, up 6.9 per cent. Managing director Mark Chellew said it was "a good result considering the challenges facing the industry." "Adelaide Brighton's cement and lime exposure to resources and infrastructure helped us deliver a record result despite residential and commercial building activity remaining weak," he said. We also made significant progress on our investment program and secured important customer and supplier contracts that underpin the utilisation and efficiency of our production and distribution network. Strength in the lime business, which enjoyed sales volume growth of more than 5 per cent, supported by demand from alumina and gold producers, validates our focus on this business over the last decade as a key driver of shareholder value. We continue to invest in the business to maintain our strong competitive position and meet long term demand. The company said the pre-mixed concrete, aggregates and masonry business was impacted by weak commercial and residential building activity on Australia's east coast. In order to mitigate its carbon tax impost over the next five years, the company said it would look at increasing imports, reduce reliance on domestic manufacture and increase the use of alternative fuels. The carbon tax was expected to cost the company $6 million after tax in the current calendar year. "As previously advised, Adelaide Brighton expects to realise approximately $100 million from its significant land bank over the next decade," the company said. This will be supported by the rationalisation of operating assets, such as depleted quarries. Mr Chellew said the company had gearing of just 31 per cent, and had the capacity to make acquisitions. Adelaide Brighton will pay a dividend of 16.5c, fully franked, steady from last year. Adelaide Brighton shares were 1.5c higher at $3.29 in early trade.