Adbri Limited announced results for FY22

Adbri Limited (ASX: ABC) has announced its financial results for the full year ended 31 December 2022 (FY22):

• The company reported an 8.4% increase in revenue to AU$1.7 billion, primarily due to price increases and volume growth in its most product lines.
• However, the statutory NPAT was AU$102.6 million, a decrease from AU$116.7 million in FY21, mainly because of higher operating costs from inflation, particularly energy costs, and wet weather events.
• The underlying NPAT also decreased by 0.9% to AU$118.0 million compared to NPAT of AU$119.1 million in previous corresponding period.
• Excluding property sales profits, the underlying NPAT was AU$77.7 million versus FY21 of AU$113.0 million, which is within the guidance range provided in October 2022.
• The company's net debt was AU$576.4 million compared with AU$437.4 million of net debt in FY21, reflecting the Zanows acquisition and Kwinana Upgrade project, partly offset by surplus land sales.

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